Key Points
- Director Kenneth Sadowsky sold 3,900 shares of Vita Coco on March 18 at an average price of $56.92 for $221,988, reducing his stake by 0.66% to 590,466 shares (valued at ≈$33.61M).
- Vita Coco missed quarterly EPS ($0.09 vs. $0.13 expected) while beating revenue estimates ($127.79M vs. $117.8M); the stock has a $3.05B market cap, a P/E of 45.03, and a consensus analyst rating of "Moderate Buy" with a $56.38 target.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $58.04, for a total transaction of $116,080.00. Following the completion of the transaction, the chief financial officer directly owned 27,951 shares in the company, valued at approximately $1,622,276.04. The trade was a 6.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Corey Baker also recently made the following trade(s):
- On Monday, March 16th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $57.98, for a total transaction of $115,960.00.
- On Friday, March 13th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $58.86, for a total value of $117,720.00.
Vita Coco Stock Down 1.4%
NASDAQ:COCO opened at $53.23 on Friday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $61.39. The firm has a market capitalization of $3.04 billion, a P/E ratio of 44.89, a P/E/G ratio of 1.76 and a beta of 0.37. The stock's fifty day simple moving average is $55.21 and its 200-day simple moving average is $49.00.
Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same period last year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.
Hedge Funds Weigh In On Vita Coco
Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock valued at $60,000 after purchasing an additional 227 shares during the period. CWM LLC increased its stake in Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company's stock worth $80,000 after purchasing an additional 232 shares in the last quarter. Mariner LLC raised its holdings in Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company's stock worth $371,000 after buying an additional 236 shares during the period. Envestnet Asset Management Inc. raised its holdings in Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company's stock worth $1,424,000 after buying an additional 298 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Vita Coco by 3.2% in the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company's stock valued at $435,000 after buying an additional 376 shares in the last quarter. Institutional investors own 88.49% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on COCO. Morgan Stanley upped their price target on Vita Coco from $49.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Zacks Research cut shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. Wells Fargo & Company upped their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, January 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Vita Coco in a research report on Monday, December 29th. Finally, Piper Sandler boosted their price target on shares of Vita Coco from $47.00 to $59.00 and gave the company an "overweight" rating in a report on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of "Moderate Buy" and an average target price of $56.38.
View Our Latest Stock Analysis on COCO
About Vita Coco
(
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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