Vita Coco (NASDAQ:COCO) Reaches New 1-Year High – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $56.84 and last traded at $56.5370, with a volume of 51559 shares changing hands. The stock had previously closed at $55.73.

Analyst Upgrades and Downgrades

COCO has been the subject of several research analyst reports. Wall Street Zen raised Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Finally, Morgan Stanley lifted their price target on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.50.

Vita Coco Stock Up 1.1%

The stock has a market cap of $3.21 billion, a P/E ratio of 49.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.38. The business’s 50-day simple moving average is $53.70 and its two-hundred day simple moving average is $44.38.

Insider Buying and Selling at Vita Coco

In related news, Chairman Michael Kirban sold 5,102 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $44.00, for a total value of $224,488.00. Following the completion of the transaction, the chairman directly owned 1,479,049 shares of the company’s stock, valued at approximately $65,078,156. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Zupo sold 10,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $43.72, for a total transaction of $437,200.00. Following the sale, the director directly owned 12,162 shares in the company, valued at $531,722.64. The trade was a 45.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 211,421 shares of company stock valued at $10,080,091 in the last quarter. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Institutional investors have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC grew its holdings in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares in the last quarter. Quarry LP boosted its position in shares of Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after acquiring an additional 758 shares during the period. MAI Capital Management bought a new position in shares of Vita Coco in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $49,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Vita Coco during the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.