Kenneth Sadowsky Sells 3,900 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total value of $302,133.00. Following the completion of the sale, the director directly owned 582,666 shares in the company, valued at $45,139,135.02. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total value of $190,827.00.
• On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $56.92, for a total value of $221,988.00.

Vita Coco Stock Down 3.5%

NASDAQ:COCO opened at $76.04 on Friday. The stock’s 50-day simple moving average is $58.19 and its 200 day simple moving average is $54.53. The firm has a market capitalization of $4.34 billion, a PE ratio of 55.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $79.70.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data 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 analyst estimates of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.Vita Coco’s revenue was up 37.4% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, analysts anticipate that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Vita Coco

Several large investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its position in Vita Coco by 80.3% in the first 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 last quarter. Vanguard Group Inc. raised its position in shares of Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after acquiring an additional 237,510 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after acquiring an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Vita Coco by 12.1% during the third quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after acquiring an additional 224,305 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Vita Coco during the third quarter worth about $62,815,000. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COCO. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Morgan Stanley set a $65.00 target price on Vita Coco in a research report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Wells Fargo & Company increased their target price on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group increased their target price on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

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.