Vita Coco (NASDAQ:COCO) Reaches New 1-Year High – Here’s What Happened

Vita Coco Company, Inc. (NASDAQ:COCO) shares reached a new 52-week high on Monday . The company traded as high as $42.88 and last traded at $42.82, with a volume of 1508639 shares traded. The stock had previously closed at $39.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COCO shares. Piper Sandler raised Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 target price for the company in a report on Wednesday, August 20th. Morgan Stanley lifted their target price on Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Wells Fargo & Company boosted their price target on Vita Coco from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC initiated coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Vita Coco Stock Up 7.2%

The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 2.12 and a beta of 0.36. The stock has a 50 day moving average of $36.73 and a 200 day moving average of $35.02.

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

Insider Activity

In other Vita Coco news, Director Ira Liran sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director owned 692,579 shares of the company’s stock, valued at approximately $29,088,318. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 16,827 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $42.55, for a total value of $715,988.85. Following the transaction, the chief operating officer directly owned 76,127 shares of the company’s stock, valued at approximately $3,239,203.85. The trade was a 18.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,412,733 shares of company stock valued at $138,973,374. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MAI Capital Management acquired a new position in Vita Coco during the second quarter worth about $33,000. EverSource Wealth Advisors LLC grew 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 purchasing an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Vita Coco during the second quarter worth about $50,000. CWM LLC grew its holdings in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Finally, Militia Capital Partners LP grew its holdings in shares of Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock worth $98,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds 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.