Vita Coco (NASDAQ:COCO) Sets New 52-Week High – Time to Buy?

Vita Coco Company, Inc. (NASDAQ:COCO) shares hit a new 52-week high during trading on Monday . The stock traded as high as $59.88 and last traded at $57.51, with a volume of 46656 shares traded. The stock had previously closed at $58.96.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COCO shares. Evercore upped their price target on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Wall Street Zen upgraded Vita Coco from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Jefferies Financial Group upped their price target on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company raised their price objective on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $53.50.

Vita Coco Price Performance

The business has a 50 day simple moving average of $54.01 and a 200 day simple moving average of $44.90. The stock has a market cap of $3.31 billion, a PE ratio of 50.49, a P/E/G ratio of 1.67 and a beta of 0.38.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director John Zupo sold 10,000 shares of Vita Coco stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Es Charles Van sold 20,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the transaction, the insider owned 84,328 shares in the company, valued at approximately $4,216,400. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,421 shares of company stock worth $10,842,491 in the last ninety days. Insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC boosted its stake in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares in the last quarter. Quarry LP lifted its holdings in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. MAI Capital Management bought a new stake in Vita Coco during the second quarter worth approximately $33,000. GAMMA Investing LLC grew its holdings in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Vita Coco in the third quarter valued at approximately $54,000. 88.49% of the stock is currently owned by institutional investors.

About Vita Coco

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.