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

Key Points

• Vita Coco's stock reached a new 52-week high of $40.32, reflecting strong investor interest with a trading volume of over 570,000 shares.
• Research analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $38.38.
• The company reported a revenue increase of 17.1% year-over-year for the quarter, alongside a reported earnings per share of $0.38, beating estimates by $0.02.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $40.32 and last traded at $40.27, with a volume of 570698 shares traded. The stock had previously closed at $38.99.

Wall Street Analyst Weigh In

COCO has been the topic of several research reports. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Morgan Stanley lifted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Piper Sandler raised shares of 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. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.38.

Vita Coco Price Performance

The company has a market capitalization of $2.26 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.36. The stock's 50 day simple moving average is $36.15 and its 200-day simple moving average is $34.47.

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

Insider Buying and Selling at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $34.69, for a total transaction of $135,291.00. Following the completion of the transaction, the director directly owned 635,566 shares of the company's stock, valued at approximately $22,047,784.54. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00. Following the transaction, the chairman directly owned 1,599,049 shares of the company's stock, valued at approximately $62,618,758.84. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,800 shares of company stock valued at $3,414,496. 32.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of COCO. Voya Investment Management LLC grew its position in shares of Vita Coco by 3,376.9% in the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after buying an additional 570,087 shares during the last quarter. Bank of America Corp DE lifted its stake in Vita Coco by 382.2% in the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after buying an additional 405,913 shares during the last quarter. Marshall Wace LLP purchased a new stake in Vita Coco in the second quarter valued at approximately $9,627,000. Wellington Management Group LLP lifted its stake in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after buying an additional 258,521 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Vita Coco by 62.2% in the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock valued at $19,776,000 after buying an additional 247,339 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.

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