The Vita Coco Company, Inc. (NASDAQ:COCO) COO Sells $27,186.20 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the sale, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Jonathan Burth also recently made the following trade(s):

• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The stock was sold at an average price of $30.00, for a total value of $12,000.00.
• On Monday, September 30th, Jonathan Burth sold 2,244 shares of Vita Coco stock. The stock was sold at an average price of $30.01, for a total value of $67,342.44.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $29.43 on Friday. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $31.42. The company has a market capitalization of $1.67 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The company has a 50-day simple moving average of $27.46 and a 200 day simple moving average of $26.93.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The company had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $144.08 million. During the same period last year, the firm posted $0.26 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COCO. Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $28.00 in a research report on Friday, July 12th. Jefferies Financial Group cut their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America raised their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $30.17.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC bought a new stake in shares of Vita Coco during the 1st quarter worth about $18,210,000. Victory Capital Management Inc. raised its holdings in Vita Coco by 1,310.1% in the 2nd quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock valued at $12,086,000 after acquiring an additional 403,192 shares during the period. Driehaus Capital Management LLC bought a new position in Vita Coco in the 2nd quarter valued at about $9,859,000. Vanguard Group Inc. raised its holdings in Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after acquiring an additional 230,991 shares during the period. Finally, Summit Creek Advisors LLC raised its holdings in Vita Coco by 123.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company’s stock valued at $9,487,000 after acquiring an additional 188,060 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.