Vita Coco (NASDAQ:COCO) Reaches New 52-Week High - Here's Why

Key Points

• Vita Coco shares reached a new 52-week high, trading at $42.82, with a volume of nearly 1.6 million shares during mid-day trading.
• Analysts show mixed opinions with Piper Sandler upgrading to "overweight" with a price target of $39, while Wall Street Zen downgraded from "buy" to "hold." The consensus price target stands at $38.38.
• The company posted a quarterly revenue of $168.76 million, exceeding estimates, and has shown a year-over-year revenue growth of 17.1% with an EPS of $0.38.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $42.82 and last traded at $42.30, with a volume of 1595996 shares. The stock had previously closed at $39.98.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COCO shares. Morgan Stanley boosted their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price target on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target on the stock in a research note on Wednesday, August 20th. Finally, Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.38.

Vita Coco Stock Up 1.2%

The firm has a fifty day simple moving average of $36.42 and a 200-day simple moving average of $34.69. The company has a market capitalization of $2.26 billion, a P/E ratio of 37.13, a P/E/G ratio of 2.24 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. During the same period last year, the company earned $0.32 earnings per share. Vita Coco's quarterly revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ira Liran sold 50,000 shares of Vita Coco stock in a transaction on 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 sale, the director owned 692,579 shares of the company's stock, valued at approximately $29,088,318. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 16,827 shares of Vita Coco stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.55, for a total value of $715,988.85. Following the completion of the transaction, the chief operating officer directly owned 76,127 shares of the company's stock, valued at $3,239,203.85. This represents a 18.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,351,133 shares of company stock worth $136,449,456. Corporate insiders own 32.30% of the company's stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in shares of Vita Coco by 47.9% in the 2nd quarter. Squarepoint Ops LLC now owns 18,884 shares of the company's stock valued at $682,000 after purchasing an additional 6,120 shares during the last quarter. Ranger Investment Management L.P. grew its position in Vita Coco by 7.3% during the 2nd quarter. Ranger Investment Management L.P. now owns 225,175 shares of the company's stock worth $8,129,000 after acquiring an additional 15,240 shares during the last quarter. Cim LLC grew its position in Vita Coco by 3.8% during the 2nd quarter. Cim LLC now owns 13,904 shares of the company's stock worth $502,000 after acquiring an additional 514 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Vita Coco by 113.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company's stock worth $168,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in Vita Coco during the 2nd quarter worth $206,000. Institutional investors own 88.49% of the company's stock.

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.