Michael Kirban Sells 5,102 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 5,102 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $44.00, for a total transaction of $224,488.00. Following the completion of the sale, the chairman owned 1,479,049 shares of the company’s stock, valued at $65,078,156. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Thursday, October 30th, Michael Kirban sold 14,898 shares of Vita Coco stock. The stock was sold at an average price of $44.21, for a total transaction of $658,640.58.
• On Wednesday, October 29th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $45.70, for a total transaction of $1,371,000.00.
• On Monday, September 22nd, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $41.53, for a total value of $830,600.00.
• On Wednesday, September 17th, Michael Kirban sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $41.72, for a total value of $1,251,600.00.
• On Thursday, September 11th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $39.05, for a total value of $781,000.00.
• On Tuesday, September 9th, Michael Kirban sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00.

Vita Coco Price Performance

Vita Coco stock traded up $1.58 during trading hours on Monday, hitting $45.43. The stock had a trading volume of 2,647,224 shares, compared to its average volume of 810,389. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $50.50. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 2.74 and a beta of 0.39. The stock’s fifty day moving average is $41.15 and its two-hundred day moving average is $37.50.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $182.31 million during the quarter, compared to the consensus estimate of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Institutional Trading of Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. Wilmington Savings Fund Society FSB acquired a new position in Vita Coco in the 3rd quarter valued at $62,815,000. Wellington Management Group LLP boosted its holdings in shares of Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Vita Coco in the third quarter valued at $45,135,000. Millennium Management LLC grew its position 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 during the period. Finally, Ameriprise Financial Inc. increased its stake in Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after purchasing an additional 737,823 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

COCO has been the topic of several recent research reports. Piper Sandler set a $47.00 price target on shares of Vita Coco and gave the company an “overweight” rating in a report on Wednesday, October 29th. Needham & Company LLC assumed coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Zacks Research upgraded Vita Coco from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Wells Fargo & Company raised their price target on Vita Coco from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $54.00 in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.63.

About Vita Coco

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.