Vita Coco (NASDAQ:COCO) Trading Up 6.2%

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price shot up 6.2% during mid-day trading on Wednesday . The company traded as high as $26.17 and last traded at $25.74. 466,765 shares traded hands during trading, a decline of 33% from the average session volume of 696,123 shares. The stock had previously closed at $24.24.

Analysts Set New Price Targets

COCO has been the topic of a number of analyst reports. Stephens raised Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a research report on Thursday, February 29th. William Blair cut shares of Vita Coco from an "outperform" rating to a "market perform" rating in a research report on Monday, January 22nd. Piper Sandler increased their price target on shares of Vita Coco from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. TheStreet downgraded shares of Vita Coco from a "b-" rating to a "c+" rating in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group reduced their target price on Vita Coco from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.71.

Vita Coco Stock Performance

The firm has a market cap of $1.48 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.00 and a beta of 0.16. The company's 50 day moving average is $24.45 and its 200 day moving average is $25.00.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The business had revenue of $106.10 million during the quarter, compared to analysts' expectations of $99.63 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Vita Coco news, Director Ira Liran sold 13,998 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96. Following the completion of the sale, the director now owns 645,942 shares of the company's stock, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Michael Kirban sold 6,900 shares of the business's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,500.00. Following the transaction, the chairman now directly owns 633,448 shares of the company's stock, valued at approximately $15,836,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Liran sold 13,998 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the sale, the director now owns 645,942 shares in the company, valued at approximately $16,161,468.84. The disclosure for this sale can be found here. Insiders have sold a total of 52,353 shares of company stock valued at $1,309,536 over the last ninety days. 51.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Several institutional investors have recently added to or reduced their stakes in COCO. Principal Financial Group Inc. increased its stake in shares of Vita Coco by 31.0% in the 1st quarter. Principal Financial Group Inc. now owns 31,004 shares of the company's stock valued at $757,000 after acquiring an additional 7,330 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Vita Coco in the first quarter worth $63,000. Simplicity Wealth LLC bought a new stake in Vita Coco in the first quarter valued at $367,000. AMI Asset Management Corp raised its holdings in shares of Vita Coco by 43.2% during the first quarter. AMI Asset Management Corp now owns 174,502 shares of the company's stock valued at $4,263,000 after purchasing an additional 52,646 shares during the period. Finally, Wasatch Advisors LP boosted its position in shares of Vita Coco by 41.8% during the 1st quarter. Wasatch Advisors LP now owns 398,057 shares of the company's stock worth $9,725,000 after purchasing an additional 117,346 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.