Vita Coco (NASDAQ:COCO) CMO Jane Prior Sells 50,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the sale, the chief marketing officer owned 127,399 shares in the company, valued at approximately $6,741,955.08. This trade represents a 28.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Vita Coco Stock Up 2.0%

COCO opened at $52.74 on Tuesday. The business’s fifty day simple moving average is $54.61 and its 200 day simple moving average is $47.94. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $59.88. The stock has a market cap of $3.01 billion, a PE ratio of 44.69, a P/E/G ratio of 1.63 and a beta of 0.36.

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

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its holdings in Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the period. Quarry LP raised its stake in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares in the last quarter. MAI Capital Management bought a new position in Vita Coco in the second quarter worth about $33,000. Finally, GAMMA Investing LLC lifted its holdings in 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 buying an additional 227 shares during the period. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

COCO has been the topic of several recent research reports. Jefferies Financial Group increased 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. The Goldman Sachs Group lifted their price objective on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Wall Street Zen lowered Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Piper Sandler raised their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

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.