Vita Coco (NASDAQ:COCO) Sets New 12-Month High – Here’s What Happened

Vita Coco Company, Inc. (NASDAQ:COCO) reached a new 52-week high on Friday . The stock traded as high as $40.32 and last traded at $40.27, with a volume of 570698 shares trading hands. The stock had previously closed at $38.99.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COCO. Wells Fargo & Company increased their target price on shares of Vita Coco from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Morgan Stanley raised their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price objective for the company in a report on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $38.38.

Vita Coco Trading Up 1.5%

The business’s fifty day simple moving average is $36.19 and its 200 day simple moving average is $34.49. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.06 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $168.76 million for the quarter, compared to analysts’ expectations of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity

In other news, Chairman Michael Kirban sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman directly owned 1,599,049 shares in the company, valued at $62,618,758.84. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 2,114 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $37.00, for a total transaction of $78,218.00. Following the completion of the transaction, the director owned 618,341 shares in the company, valued at approximately $22,878,617. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,800 shares of company stock worth $3,414,496. 32.30% of the stock is currently owned by company insiders.

Institutional Trading of Vita Coco

A number of institutional investors have recently bought and sold shares of COCO. Voya Investment Management LLC boosted its holdings in Vita Coco by 3,376.9% in the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after purchasing an additional 570,087 shares during the period. Bank of America Corp DE lifted its holdings in shares of Vita Coco by 382.2% during the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock worth $18,902,000 after acquiring an additional 405,913 shares during the period. Marshall Wace LLP bought a new stake in shares of Vita Coco during the 2nd quarter worth approximately $9,627,000. Wellington Management Group LLP lifted its holdings in shares of Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock worth $15,676,000 after acquiring an additional 258,521 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock worth $19,776,000 after acquiring an additional 247,339 shares during the period. Institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.