Jonathan Burth Sells 20,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 20,000 shares of Vita Coco stock in a transaction on Friday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,053,700. The trade was a 25.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Burth also recently made the following trade(s):

• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $67.50, for a total transaction of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The shares were sold at an average price of $63.75, for a total transaction of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The shares were sold at an average price of $58.65, for a total transaction of $3,519,000.00.

Vita Coco Price Performance

NASDAQ:COCO opened at $74.61 on Wednesday. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $75.64. The company has a market cap of $4.26 billion, a PE ratio of 54.46, a PEG ratio of 1.74 and a beta of 0.72. The firm has a 50-day moving average of $54.50 and a 200-day moving average of $52.62.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $179.77 million for the quarter, compared to analysts’ expectations of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, equities research analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Vita Coco in the 3rd quarter worth about $62,815,000. Wellington Management Group LLP boosted its holdings in shares of Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after buying an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco during the fourth quarter valued at about $73,242,000. Finally, Westfield Capital Management Co. LP bought a new position in Vita Coco during the third quarter valued at about $45,135,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COCO has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of Vita Coco from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

About Vita Coco

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.