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

Key Points

• Vita Coco's stock (NASDAQ:COCO) reached a new 52-week high, trading as high as $42.88 and closing at $42.82, with significant trading volume of 1,508,639 shares.
• Analyst ratings have varied, with Morgan Stanley and Wells Fargo raising their target prices to $41.00 and $47.00 respectively, while Wall Street Zen downgraded its rating from "buy" to "hold."
• Recent insider selling activity saw Director Ira Liran and another insider selling shares for substantial amounts, indicating a potential shift in insider sentiment.

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

Analyst Ratings Changes

COCO has been the subject of several recent research reports. Morgan Stanley upped their price objective on shares of Vita Coco from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday. Needham & Company LLC began coverage on shares of Vita Coco in a research note on Wednesday, September 24th. They set a "hold" rating for the company. Wells Fargo & Company upped their target price on shares of Vita Coco from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen cut shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price for the company in a research note on Wednesday, August 20th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $39.00.

Vita Coco Trading Up 7.2%

The company's fifty day moving average price is $36.73 and its two-hundred day moving average price is $35.02. The firm has a market cap of $2.43 billion, a P/E ratio of 40.02, a price-to-earnings-growth ratio of 2.12 and a beta of 0.36.

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

Insider Buying and Selling

In other Vita Coco news, Director Ira Liran sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the sale, the director directly owned 692,579 shares in the company, valued at approximately $29,088,318. This trade represents a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Es Charles Van sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $42.04, for a total transaction of $840,800.00. Following the sale, the insider owned 84,328 shares in the company, valued at $3,545,149.12. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,412,733 shares of company stock worth $138,973,374. 34.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in the business. MAI Capital Management acquired a new position in Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Vita Coco during the second quarter worth $50,000. CWM LLC increased its holdings in 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 buying an additional 367 shares during the last quarter. Finally, Militia Capital Partners LP increased its holdings in 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 buying an additional 1,200 shares during the last quarter. 88.49% of the stock is owned by 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.

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