Vita Coco (NASDAQ:COCO) COO Sells $2,250,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 30,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. This trade represents a 34.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 8th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $70.00, for a total value of $1,400,000.00.
• 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 value of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The stock was sold at an average price of $63.75, for a total value of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The stock was sold at an average price of $58.65, for a total value of $3,519,000.00.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $78.44 on Friday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.72. The stock has a 50 day moving average price of $55.82 and a 200-day moving average price of $53.30. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $78.55.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COCO. Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Jefferies Financial Group boosted their price target on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Castleark Management LLC grew its holdings in Vita Coco by 167.0% during the first quarter. Castleark Management LLC now owns 97,610 shares of the company’s stock worth $4,676,000 after acquiring an additional 61,050 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in Vita Coco by 10.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,602 shares of the company’s stock worth $652,000 after acquiring an additional 1,300 shares during the period. Sei Investments Co. grew its holdings in Vita Coco by 118.6% during the first quarter. Sei Investments Co. now owns 163,091 shares of the company’s stock worth $7,814,000 after acquiring an additional 88,481 shares during the period. State of Wyoming grew its holdings in Vita Coco by 536.7% during the first quarter. State of Wyoming now owns 9,952 shares of the company’s stock worth $477,000 after acquiring an additional 8,389 shares during the period. Finally, First Trust Advisors LP grew its holdings in Vita Coco by 39.2% during the first quarter. First Trust Advisors LP now owns 357,889 shares of the company’s stock worth $17,146,000 after acquiring an additional 100,791 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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.