Key Points
- CEO Martin Roper sold a total of 54,456 Vita Coco shares in early April (25,000 on April 8, 25,000 on April 10 at an average $50.11, and 4,456 on April 13), reducing his stake by 7.73% to 298,484 shares; the April 10 sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Vita Coco reported quarterly EPS of $0.09 (missing estimates by $0.04) with revenue of $127.79 million (above estimates), the stock trades in a 52-week range of $29.74–$61.39 and the company has a market cap of about $2.83 billion and a P/E of 42.06.
- Analysts are mixed but moderately positive: consensus rating is a “Moderate Buy” with an average price target of $59.43, while institutional ownership is high at 88.49% and notable fund activity includes large purchases by firms such as Fuller & Thaler.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 4,456 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $50.55, for a total transaction of $225,250.80. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares of the company's stock, valued at approximately $15,088,366.20. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Martin Roper also recently made the following trade(s):
- On Friday, April 10th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.11, for a total transaction of $1,252,750.00.
- On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.95, for a total transaction of $1,273,750.00.
Vita Coco Price Performance
NASDAQ:COCO opened at $49.63 on Wednesday. The firm has a 50 day simple moving average of $53.74 and a 200-day simple moving average of $50.53. The firm has a market cap of $2.83 billion, a PE ratio of 42.06, a P/E/G ratio of 1.52 and a beta of 0.47. Vita Coco Company, Inc. has a 1-year low of $29.74 and a 1-year high of $61.39.
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 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 analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business's quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Vita Coco
Several institutional investors and hedge funds have recently bought and sold shares of COCO. Caitong International Asset Management Co. Ltd increased its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock worth $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC grew its stake in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 675 shares during the period. Quarry LP grew its stake in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC grew its stake in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after buying an additional 1,344 shares during the period. Finally, Mather Group LLC. purchased a new stake in Vita Coco during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 88.49% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on COCO. Morgan Stanley boosted their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Wells Fargo & Company dropped their price target on shares of Vita Coco from $63.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vita Coco in a research report on Friday, March 27th. Zacks Research lowered shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Finally, Evercore reaffirmed an "outperform" rating and set a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.43.
Check Out Our Latest Report on Vita 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.
Further Reading
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