Es Charles Van Sells 8,561 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,561 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $70.00, for a total value of $599,270.00. Following the completion of the transaction, the insider directly owned 67,130 shares of the company’s stock, valued at approximately $4,699,100. This trade represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Es Charles Van also recently made the following trade(s):

• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $66.87, for a total value of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Trading Up 3.0%

Vita Coco stock opened at $74.61 on Wednesday. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $75.64. The stock’s 50 day simple moving average is $54.50 and its two-hundred day simple moving average is $52.62. The firm has a market cap of $4.26 billion, a PE ratio of 54.46, a P/E/G ratio of 1.74 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 37.4% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, equities research analysts forecast that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Vita Coco

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Vita Coco by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock valued at $51,422,000 after purchasing an additional 61,950 shares in the last quarter. KBC Group NV purchased a new stake in shares of Vita Coco during the first quarter worth about $86,000. Bank of New York Mellon Corp raised its position in shares of Vita Coco by 73.9% during the 1st quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock worth $12,139,000 after purchasing an additional 107,684 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in Vita Coco in the 1st quarter valued at about $308,000. Finally, Principal Financial Group Inc. lifted its stake in Vita Coco by 146.7% in the 1st quarter. Principal Financial Group Inc. now owns 406,719 shares of the company’s stock valued at $19,486,000 after buying an additional 241,836 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on COCO. Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Evercore restated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Vita Coco Company Profile

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.