Key Points
- CFO Corey Baker sold 5,000 Vita Coco shares at an average of $65 each, totaling $325,000. The transaction was made under a pre-arranged Rule 10b5-1 plan; Baker retained 24,951 shares afterward.
- Vita Coco reported quarterly EPS of $0.58, beating the $0.47 consensus estimate, while revenue of $243.83 million exceeded forecasts and rose 33.7% year over year.
- Analysts have a Moderate Buy consensus rating, with an average price target of $74.12; eight analysts rate the stock Buy and four rate it Hold.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 1,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer owned 24,951 shares in the company, valued at approximately $1,497,060. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Corey Baker also recently made the following trade(s):
- On Wednesday, November 4th, Corey Baker sold 5,000 shares of Vita Coco stock. The shares were sold at an average price of $65.00, for a total value of $325,000.00.
Vita Coco Stock Performance
Shares of NASDAQ:COCO opened at $63.63 on Friday. Vita Coco Company, Inc. has a one year low of $40.62 and a one year high of $85.83. The stock has a fifty day moving average of $57.32 and a 200-day moving average of $61.78. The company has a market capitalization of $3.63 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76.
Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $243.83 million during the quarter, compared to analyst estimates of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The company's revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. As a group, research analysts forecast that Vita Coco Company, Inc. will post 2.06 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
COCO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Vita Coco from $85.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, October 5th. The Goldman Sachs Group set a $90.00 price objective on Vita Coco and gave the stock a "buy" rating in a report on Thursday, July 23rd. Piper Sandler upped their price objective on shares of Vita Coco from $83.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, October 23rd. Wall Street Zen cut shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Morgan Stanley lifted their target price on shares of Vita Coco from $65.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 28th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $74.12.
Read Our Latest Stock Analysis on COCO
Institutional Trading of Vita Coco
A number of hedge funds have recently modified their holdings of COCO. Fortitude Family Office LLC boosted its position in shares of Vita Coco by 611.4% in the third quarter. Fortitude Family Office LLC now owns 626 shares of the company's stock worth $36,000 after buying an additional 538 shares during the period. IFP Advisors Inc raised its position in Vita Coco by 210.4% during the second quarter. IFP Advisors Inc now owns 689 shares of the company's stock valued at $46,000 after buying an additional 467 shares during the period. Signature Equity Partners LLC acquired a new position in Vita Coco during the third quarter valued at $42,000. Rockefeller Capital Management L.P. lifted its stake in Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after acquiring an additional 958 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its stake in Vita Coco by 166,200.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,663 shares of the company's stock worth $110,000 after acquiring an additional 1,662 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.
About Vita Coco
(
Get Free Report)
The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.
Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.
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