Vita Coco (NASDAQ:COCO) Hits New 52-Week High – Here’s What Happened

The Vita Coco Company, Inc. (NASDAQ:COCO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $39.43 and last traded at $39.63, with a volume of 183930 shares. The stock had previously closed at $37.54.

Wall Street Analyst Weigh In

COCO has been the topic of several research analyst reports. Craig Hallum raised their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Vita Coco Stock Performance

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.24 and a beta of 0.30. The company’s 50 day simple moving average is $36.22 and its 200 day simple moving average is $31.61.

Insider Activity

In other Vita Coco news, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total value of $74,560.00. Following the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the transaction, the director now owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,800 shares of company stock worth $4,049,858 over the last three months. Corporate insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pier Capital LLC grew its position in Vita Coco by 39.6% in the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock worth $7,405,000 after buying an additional 56,879 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $7,609,000. Summit Creek Advisors LLC grew its holdings in shares of Vita Coco by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company’s stock worth $14,837,000 after acquiring an additional 1,193 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Vita Coco by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock worth $95,565,000 after purchasing an additional 11,712 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Vita Coco during the fourth quarter worth $399,000. 88.49% of the stock is currently owned by 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.