Vita Coco (NASDAQ:COCO) Hits New 1-Year High – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.88 and last traded at $57.51, with a volume of 46656 shares. The stock had previously closed at $58.96.

Analysts Set New Price Targets

COCO has been the topic of several recent analyst reports. Evercore lifted their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. The Goldman Sachs Group lifted their price objective on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Morgan Stanley boosted their price objective on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.50.

Vita Coco Trading Down 1.5%

The stock has a market cap of $3.31 billion, a P/E ratio of 50.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. The company’s fifty day simple moving average is $54.01 and its 200-day simple moving average is $44.90.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 33,862 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the completion of the transaction, the director owned 602,579 shares in the company, valued at $30,291,646.33. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Es Charles Van sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider owned 84,328 shares in the company, valued at approximately $4,216,400. This represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 211,421 shares of company stock worth $10,842,491. 34.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC grew its holdings in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP boosted its position in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares in the last quarter. MAI Capital Management bought a new stake in Vita Coco during the second quarter worth about $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Vita Coco in the second quarter valued at approximately $50,000. 88.49% of the stock is owned by institutional investors.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.