The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper Sells 300 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $35.05, for a total value of $10,515.00. Following the completion of the transaction, the chief executive officer now owns 442,152 shares of the company’s stock, valued at approximately $15,497,427.60. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vita Coco Stock Up 1.2 %

Shares of NASDAQ:COCO traded up $0.39 during midday trading on Friday, hitting $34.24. The stock had a trading volume of 37,361 shares, compared to its average volume of 620,310. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $36.41. The company’s 50-day moving average price is $29.54 and its 200-day moving average price is $27.77. The company has a market capitalization of $1.94 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same period in the previous year, the firm posted $0.26 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Trading of Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. Wasatch Advisors LP increased its position in Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after purchasing an additional 1,799,168 shares during the period. Vanguard Group Inc. increased its position in shares of Vita Coco by 10.8% during the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after acquiring an additional 230,991 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Vita Coco by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock valued at $21,623,000 after acquiring an additional 156,033 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Vita Coco by 8.0% during the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock valued at $21,203,000 after purchasing an additional 56,416 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COCO has been the topic of several recent analyst reports. Craig Hallum boosted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group decreased their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.