Key Points
- Vita Coco CMO Jane Prior sold 50,000 shares on March 5 at an average price of $52.92 for proceeds of $2,646,000, leaving her with 127,399 shares (a 28.19% reduction in her position).
- The company missed EPS expectations in the last quarter ($0.09 vs. $0.13) but beat revenue estimates ($127.79M vs. $117.8M); the stock trades in the mid-$50s, has a market cap of about $3.01B, and carries a consensus "Moderate Buy" rating with a $54.88 target.
- Institutional investors own about 88.49% of the stock, and analysts have recently raised price targets and ratings (several Buy/Outperform calls from firms like Piper Sandler, Jefferies and Bank of America).
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CMO Jane Prior sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the completion of the transaction, the chief marketing officer directly owned 127,399 shares of the company's stock, valued at $6,741,955.08. This represents a 28.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Vita Coco Stock Up 2.0%
NASDAQ COCO opened at $52.74 on Tuesday. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $59.88. The firm has a market capitalization of $3.01 billion, a PE ratio of 44.69, a P/E/G ratio of 1.63 and a beta of 0.36. The stock's 50 day moving average is $54.61 and its 200 day moving average is $47.94.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.Vita Coco's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. On average, research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.
Analyst Upgrades and Downgrades
COCO has been the subject of several research reports. Evercore reiterated an "outperform" rating and issued a $58.00 price target on shares of Vita Coco in a research note on Thursday, February 19th. Piper Sandler boosted their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 25th. Jefferies Financial Group raised their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, November 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Vita Coco in a report on Monday, December 29th. Finally, Bank of America raised Vita Coco from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.88.
View Our Latest Analysis on COCO
Institutional Investors Weigh In On Vita Coco
Several hedge funds and other institutional investors have recently made changes to their positions in COCO. Virtu Financial LLC bought a new position in shares of Vita Coco in the 4th quarter worth approximately $642,000. Invesco Ltd. grew its position in Vita Coco by 13.9% during the fourth quarter. Invesco Ltd. now owns 50,206 shares of the company's stock valued at $2,661,000 after buying an additional 6,115 shares during the period. Vident Advisory LLC purchased a new stake in Vita Coco during the fourth quarter valued at approximately $284,000. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco in the fourth quarter worth approximately $73,242,000. Finally, Empowered Funds LLC bought a new position in Vita Coco in the fourth quarter worth approximately $583,000. Hedge funds and other institutional investors own 88.49% of the company's stock.
Vita Coco Company Profile
(
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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