Key Points
- Director Kenneth Sadowsky sold 3,900 Vita Coco shares on June 17 at an average price of $82.92, totaling about $323,388. The trade was made under a pre-arranged Rule 10b5-1 plan, and he still held 580,296 shares afterward.
- Vita Coco’s recent earnings beat expectations, with quarterly EPS of $0.50 versus the $0.34 estimate and revenue of $179.77 million, up 37.4% year over year. The company also posted a 12.59% net margin and 25.43% return on equity.
- Analysts remain generally positive on COCO, with the consensus rating at “Moderate Buy” and an average target price of $70.43. The stock has also climbed near its 52-week high, opening at $83.90 versus a 52-week range of $31.79 to $85.83.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares of the company's stock, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kenneth Sadowsky also recently made the following trade(s):
- On Wednesday, May 20th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $77.47, for a total value of $302,133.00.
- On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total value of $190,827.00.
Vita Coco Price Performance
Shares of COCO opened at $83.90 on Friday. The business's 50-day moving average is $67.74 and its 200-day moving average is $58.85. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 61.24, a P/E/G ratio of 2.01 and a beta of 0.74. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business had revenue of $179.77 million during the quarter, compared to analysts' expectations of $148.39 million. During the same period last year, the company posted $0.31 earnings per share. The firm's quarterly revenue was up 37.4% compared to the same quarter last year. Equities research analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.
Analyst Ratings Changes
COCO has been the topic of several research analyst reports. Zacks Research upgraded shares of Vita Coco from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Wall Street Zen upgraded Vita Coco from a "sell" rating to a "buy" rating in a report on Saturday, May 2nd. Wells Fargo & Company lifted their price objective on Vita Coco from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Citigroup restated a "buy" rating on shares of Vita Coco in a research note on Tuesday, May 26th. Finally, Evercore reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.43.
Read Our Latest Stock Report on Vita Coco
Institutional Trading of Vita Coco
A number of institutional investors have recently added to or reduced their stakes in COCO. Caitong International Asset Management Co. Ltd grew its position in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock worth $28,000 after acquiring an additional 501 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 675 shares in the last quarter. Quarry LP raised its holdings in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after purchasing an additional 758 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after purchasing an additional 958 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
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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