The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker Sells 2,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $36.72 on Friday. The business’s fifty day moving average price is $32.96 and its two-hundred day moving average price is $29.15. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. Research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its holdings in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares during the period. Geode Capital Management LLC raised its holdings in Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after buying an additional 461,748 shares during the period. State Street Corp increased its position in shares of Vita Coco by 4.7% in the 3rd quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after buying an additional 39,431 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after acquiring an additional 156,033 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COCO. Craig Hallum upped their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America upped their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.14.

About Vita Coco

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.