Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Jane Cecil Morreau sold 15,000 shares of Vita Coco stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the completion of the sale, the director owned 17,179 shares of the company's stock, valued at $926,119.89. The trade was a 46.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Vita Coco Price Performance
NASDAQ:COCO opened at $55.24 on Wednesday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $59.88. The company has a 50-day moving average of $54.35 and a 200 day moving average of $46.62. The firm has a market cap of $3.15 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.38.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company's revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on COCO shares. Piper Sandler lifted their price target on Vita Coco from $47.00 to $59.00 and gave the company an "overweight" rating in a report on Tuesday, November 25th. The Goldman Sachs Group raised their price objective on Vita Coco from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, November 18th. Wall Street Zen lowered Vita Coco from a "buy" rating to a "sell" rating in a research note on Saturday. Bank of America upgraded shares of Vita Coco from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Wells Fargo & Company raised their price target on shares of Vita Coco from $50.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.88.
Get Our Latest Report on Vita Coco
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in COCO. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco in the third quarter valued at about $62,815,000. Wellington Management Group LLP grew its stake in shares of Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company's stock worth $84,617,000 after acquiring an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco during the fourth quarter valued at about $73,242,000. Westfield Capital Management Co. LP purchased a new position in shares of Vita Coco in the 3rd quarter valued at approximately $45,135,000. Finally, Millennium Management LLC boosted its stake in Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company's stock worth $52,060,000 after purchasing an additional 762,731 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.
Vita Coco Company Profile
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Get Free Report)
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.
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