The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $278,160.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director John Zupo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $34.77, for a total value of $278,160.00. Following the sale, the director now directly owns 8,876 shares in the company, valued at approximately $308,618.52. This represents a 47.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Vita Coco Stock Up 1.3%

Shares of NASDAQ:COCO opened at $33.15 on Wednesday. The firm has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $34.59. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32. The stock has a market capitalization of $1.88 billion, a P/E ratio of 33.48, a PEG ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. On average, analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently modified their holdings of COCO. Wasatch Advisors LP raised its holdings in Vita Coco by 17.8% during the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock valued at $104,414,000 after buying an additional 427,871 shares during the period. Bank of America Corp DE increased its position in Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after acquiring an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Vita Coco by 77.3% in the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after acquiring an additional 372,633 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Vita Coco in the fourth quarter valued at $10,715,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 62.2% in the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock worth $19,776,000 after acquiring an additional 247,339 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on COCO. Evercore ISI lifted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stephens reiterated an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average price target of $35.38.

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.