Key Points
- Insider sale: Vita Coco insider Es Charles Van sold 8,561 shares on May 8 at an average price of $70.00, totaling about $599,270. The sale reduced his stake by 11.31% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Strong quarterly results: The company reported Q1 earnings of $0.50 per share, beating estimates of $0.34, while revenue rose 37.4% year over year to $179.77 million. Vita Coco also posted a 25.43% return on equity and a 12.59% net margin.
- Analysts remain upbeat: Several firms raised price targets or upgraded the stock, including Jefferies, Wells Fargo, and Zacks. The consensus analyst rating is Moderate Buy with an average target price of $69.00.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) insider Es Charles Van sold 8,561 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $70.00, for a total value of $599,270.00. Following the completion of the sale, the insider owned 67,130 shares in the company, valued at $4,699,100. The trade was a 11.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Es Charles Van also recently made the following trade(s):
- On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $66.87, for a total value of $133,740.00.
- On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $48.67, for a total value of $97,340.00.
- On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.
Vita Coco Stock Up 1.2%
Vita Coco stock opened at $72.46 on Tuesday. The company has a market capitalization of $4.14 billion, a P/E ratio of 52.89, a PEG ratio of 1.72 and a beta of 0.72. The stock's 50 day moving average is $54.17 and its 200 day moving average is $52.38. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $72.98.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.16. The company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm's quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings raised Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Zacks Research upgraded Vita Coco from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Wells Fargo & Company increased their price objective on Vita Coco from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $70.00 price objective on shares of Vita Coco in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $69.00.
View Our Latest Stock Report on COCO
Institutional Investors Weigh In On Vita Coco
Several institutional investors have recently modified their holdings of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after buying an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock valued at $49,000 after buying an additional 1,344 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Vita Coco in the 2nd quarter worth $9,627,000. Cerity Partners LLC purchased a new position in shares of Vita Coco in the 2nd quarter worth $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vita Coco in the 2nd quarter worth $2,990,000. 88.49% of the stock is owned by hedge funds and other institutional investors.
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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