Martin Roper Sells 25,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin Roper sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $50.11, for a total value of $1,252,750.00. Following the completion of the sale, the chief executive officer owned 298,484 shares of the company’s stock, valued at approximately $14,957,033.24. This trade represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Roper also recently made the following trade(s):

• On Monday, April 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The stock was sold at an average price of $50.55, for a total value of $225,250.80.
• On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The stock was sold at an average price of $50.95, for a total value of $1,273,750.00.

Vita Coco Stock Performance

COCO opened at $49.79 on Thursday. The business has a 50 day moving average price of $53.63 and a 200 day moving average price of $50.52. Vita Coco Company, Inc. has a twelve month low of $29.74 and a twelve month high of $61.39. The firm has a market cap of $2.84 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 1.56 and a beta of 0.47.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Friday, March 27th. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Evercore reiterated an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a report on Thursday, March 12th. Morgan Stanley upped their price target on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company cut their price target on Vita Coco from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COCO. Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco during the third quarter worth approximately $62,815,000. Wellington Management Group LLP raised its stake in shares of Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco in the fourth quarter valued at $73,242,000. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco in the third quarter valued at $45,135,000. Finally, Millennium Management LLC raised its stake in shares of Vita Coco by 164.7% in the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after purchasing an additional 762,731 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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.