Vita Coco (NASDAQ:COCO) Reaches New 12-Month High – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO) shares hit a new 52-week high during trading on Monday . The stock traded as high as $50.75 and last traded at $49.6050, with a volume of 216441 shares changing hands. The stock had previously closed at $48.32.

Analyst Ratings Changes

Several brokerages have recently weighed in on COCO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of 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 upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and lifted their target price for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Evercore ISI upped their price target on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Zacks Research raised shares of Vita Coco from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.

Vita Coco Stock Up 6.6%

The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 1.61 and a beta of 0.39. The business’s 50-day moving average is $41.94 and its two-hundred day moving average is $37.93.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. During the same period in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 37.2% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Ira Liran sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total value of $2,100,000.00. Following the completion of the sale, the director owned 692,579 shares of the company’s stock, valued at $29,088,318. This represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the sale, the chairman owned 1,599,049 shares of the company’s stock, valued at $62,618,758.84. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,742,758 shares of company stock worth $154,068,092. 34.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COCO. CIBC Bancorp USA Inc. acquired a new position in Vita Coco in the third quarter valued at about $1,510,000. Maven Securities LTD acquired a new stake in Vita Coco in the 3rd quarter valued at approximately $1,062,000. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco in the third quarter valued at approximately $62,815,000. Danske Bank A S acquired a new position in Vita Coco during the third quarter worth $776,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Vita Coco by 201.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 401,446 shares of the company’s stock worth $17,049,000 after buying an additional 268,338 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

About Vita Coco

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.