Vita Coco (NASDAQ:COCO) Trading Up 5.5% – What’s Next?

Shares of Vita Coco Company, Inc. (NASDAQ:COCO) traded up 5.5% on Monday . The company traded as high as $55.02 and last traded at $54.8550. Approximately 254,490 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,187,612 shares. The stock had previously closed at $52.01.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore lifted their price target on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.86.

Vita Coco Stock Up 7.4%

The firm’s fifty day simple moving average is $64.78 and its 200-day simple moving average is $64.18. The firm has a market capitalization of $3.21 billion, a PE ratio of 30.59, a PEG ratio of 0.99 and a beta of 0.75.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $216.15 million for the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, analysts predict that Vita Coco Company, Inc. will post 1.95 earnings per share for the current year.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the sale, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in Vita Coco by 73.9% in the 1st quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock worth $12,139,000 after buying an additional 107,684 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after acquiring an additional 1,637,437 shares during the period. BlackRock Inc. bought a new stake in shares of Vita Coco in the second quarter worth approximately $463,654,000. King Luther Capital Management Corp raised its holdings in shares of Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock valued at $7,262,000 after purchasing an additional 35,937 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Vita Coco by 118.6% during the first quarter. Sei Investments Co. now owns 163,091 shares of the company’s stock valued at $7,814,000 after purchasing an additional 88,481 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on better-for-you hydration products. Its flagship Vita Coco brand offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional hydration products, such as protein and electrolyte beverages, through its broader brand portfolio.

Founded in 2004 by Michael Kirban and Ira Liran, Vita Coco helped popularize coconut water in the United States. The company sells its products through grocery stores, mass retailers, convenience stores, club stores, e-commerce platforms and other retail channels.