Vita Coco (NASDAQ:COCO) Director Sells $210,288.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total value of $210,288.00. Following the sale, the director directly owned 608,266 shares in the company, valued at approximately $32,797,702.72. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, December 17th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $51.62, for a total value of $201,318.00.
• On Wednesday, November 19th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $47.12, for a total value of $183,768.00.

Vita Coco Stock Up 0.2%

Shares of COCO stock opened at $52.30 on Monday. The business’s fifty day moving average is $52.85 and its 200 day moving average is $43.68. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.48 and a beta of 0.38. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $56.46.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Equities research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

COCO has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $54.00 in a research note on Monday, November 17th. Piper Sandler boosted their target price on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Morgan Stanley raised their price target on Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Finally, Wells Fargo & Company lifted their price target on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COCO. Ascent Group LLC boosted its position in shares of Vita Coco by 12.1% during the fourth quarter. Ascent Group LLC now owns 7,262 shares of the company’s stock valued at $385,000 after buying an additional 781 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Vita Coco by 41.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,004 shares of the company’s stock valued at $636,000 after acquiring an additional 3,532 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Vita Coco during the 4th quarter valued at about $371,000. SG Americas Securities LLC grew its stake in shares of Vita Coco by 94.4% in the fourth quarter. SG Americas Securities LLC now owns 23,940 shares of the company’s stock worth $1,269,000 after acquiring an additional 11,627 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

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.