Vita Coco (NASDAQ:COCO) CFO Sells $60,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 1,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer owned 24,951 shares of the company’s stock, valued at $1,497,060. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Baker also recently made the following trade(s):

• On Wednesday, November 4th, Corey Baker sold 5,000 shares of Vita Coco stock. The shares were sold at an average price of $65.00, for a total transaction of $325,000.00.

Vita Coco Price Performance

Shares of COCO stock opened at $62.45 on Friday. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.60 and a beta of 0.76. The company’s fifty day simple moving average is $57.33 and its two-hundred day simple moving average is $61.82. Vita Coco Company, Inc. has a 1 year low of $40.62 and a 1 year high of $85.83.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $243.83 million during the quarter, compared to analyst estimates of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Vita Coco Company, Inc. will post 2.06 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. BlackRock Inc. bought a new position in Vita Coco in the 2nd quarter worth about $463,654,000. Congress Asset Management Co. boosted its position in shares of Vita Coco by 2.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company’s stock valued at $71,015,000 after acquiring an additional 33,219 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Vita Coco by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock valued at $51,422,000 after acquiring an additional 61,950 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Vita Coco during the second quarter worth about $56,722,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Vita Coco by 7,660.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 724,283 shares of the company’s stock worth $41,291,000 after purchasing an additional 714,950 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings lowered Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Evercore reissued an “outperform” rating on shares of Vita Coco in a report on Friday, October 23rd. William Blair restated a “market perform” rating on shares of Vita Coco in a research report on Thursday, October 22nd. Finally, Piper Sandler boosted their price objective on shares of Vita Coco from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.12.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.