Just noticed Vita Coco (COCO) took a bigger hit than the overall market yesterday, closing down nearly 4% while the S&P 500 only dropped 0.57%. Interesting because the stock has actually been up slightly over the past month, outperforming the consumer staples sector. Worth keeping an eye on since the company's got solid earnings growth coming up - they're expected to report quarterly EPS of $0.34, which would be up almost 10% year-over-year.

Looking at the bigger picture, Vita's full-year guidance looks pretty strong. Analysts are calling for earnings around $1.58 per share and revenue hitting $698.51 million, both representing solid double-digit growth compared to last year. Revenue's projected to grow about 14.5% and earnings nearly 33%, so the fundamentals seem decent.

Here's what caught my attention though - Vita is trading at a Forward P/E of 34.87, which is pretty rich compared to the beverage industry average of 19.96. The PEG ratio of 1.74 is lower than the soft drinks industry average of 2.24, so there's some growth priced in. The consumer staples sector overall isn't looking great though, ranked in the bottom 43% of industries. Could be a good entry point if you believe in the company's growth trajectory, but the valuation definitely seems stretched relative to peers.