Vita Coco (NASDAQ:COCO) Sets New 1-Year High at $31.95

The Vita Coco Company, Inc. (NASDAQ:COCO) hit a new 52-week high during trading on Tuesday . The company traded as high as $31.95 and last traded at $31.51, with a volume of 142163 shares changing hands. The stock had previously closed at $30.93.

Analysts Set New Price Targets

A number of research analysts have recently commented on COCO shares. The Goldman Sachs Group increased their price objective on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Bank of America lowered Vita Coco from a “buy” rating to a “neutral” rating and raised their target price for the company from $25.00 to $32.00 in a report on Wednesday, August 2nd. Stephens initiated coverage on Vita Coco in a report on Thursday, June 22nd. They issued an “equal weight” rating and a $30.00 target price on the stock. Finally, Piper Sandler raised their target price on Vita Coco from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.63.

Vita Coco Stock Performance

The stock has a 50-day simple moving average of $26.79 and a 200 day simple moving average of $24.11. The company has a market cap of $1.80 billion, a P/E ratio of 62.41 and a beta of 0.07.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Vita Coco had a return on equity of 20.71% and a net margin of 6.26%. The company had revenue of $139.65 million during the quarter, compared to the consensus estimate of $131.40 million. Sell-side analysts anticipate that The Vita Coco Company, Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Vita Coco by 154.1% during the 2nd quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after buying an additional 1,824 shares during the period. Quantbot Technologies LP bought a new position in shares of Vita Coco during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in shares of Vita Coco by 66.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock worth $38,000 after buying an additional 560 shares during the period. Pinebridge Investments L.P. bought a new position in shares of Vita Coco during the 2nd quarter worth approximately $44,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Vita Coco by 25.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after buying an additional 1,062 shares during the period. Institutional investors own 42.33% of the company’s stock.

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.