Key Points
- Director Kenneth Sadowsky sold 3,900 shares of Vita Coco on May 20 at an average price of $77.47, for proceeds of about $302,133. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his remaining stake was valued at roughly $45.1 million.
- Vita Coco’s stock has been strong, opening at $78.83 and sitting near its 52-week high of $79.70, well above its 50-day and 200-day moving averages. The company now has a market cap of about $4.5 billion.
- Recent results and analyst sentiment were positive: Vita Coco reported Q1 EPS of $0.50 versus $0.34 expected, with revenue up 37.4% year over year. Analysts currently maintain a Moderate Buy consensus, with an average price target of $70.43.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $77.47, for a total value of $302,133.00. Following the completion of the transaction, the director owned 582,666 shares in the company, valued at $45,139,135.02. The trade was a 0.66% decrease in their position. The sale 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.
Kenneth Sadowsky also recently made the following trade(s):
- On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $48.93, for a total value of $190,827.00.
- On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $56.92, for a total value of $221,988.00.
Vita Coco Stock Up 1.2%
Shares of NASDAQ COCO opened at $78.83 on Friday. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $79.70. The stock's 50 day moving average price is $57.82 and its 200-day moving average price is $54.38. The company has a market capitalization of $4.50 billion, a PE ratio of 57.54, a PEG ratio of 1.87 and a beta of 0.72.
Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company's revenue was up 37.4% compared to the same quarter last year. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $70.00 price target on shares of Vita Coco in a report on Wednesday, April 29th. Wall Street Zen raised shares of Vita Coco from a "sell" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research raised shares of Vita Coco from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Finally, Evercore reissued an "outperform" rating and set a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Vita Coco has an average rating of "Moderate Buy" and a consensus price target of $70.43.
Get Our Latest Stock Report on COCO
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new position in shares of Vita Coco in the third quarter worth $45,135,000. New York State Common Retirement Fund increased its holdings in shares of Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after purchasing an additional 47,632 shares during the period. Hussman Strategic Advisors Inc. bought a new position in shares of Vita Coco in the third quarter worth $2,230,000. Vanguard Group Inc. increased its holdings in shares of Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company's stock worth $166,959,000 after purchasing an additional 237,510 shares during the period. Finally, Night Squared LP bought a new position in shares of Vita Coco in the third quarter worth $5,193,000. Institutional investors own 88.49% of the company's stock.
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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