Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) CFO Corey Baker sold 1,000 shares of the company’s 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 trade represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $325,000.00.
Vita Coco Stock Down 2.9%
Shares of COCO stock traded down $1.89 during trading on Thursday, reaching $63.58. The company’s stock had a trading volume of 1,088,811 shares, compared to its average volume of 1,238,788. The business has a fifty day moving average price of $57.30 and a 200-day moving average price of $61.73. Vita Coco Company, Inc. has a one year low of $40.62 and a one year high of $85.83. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.76.
Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $243.83 million during the quarter, compared to analysts’ expectations of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. Vita Coco’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. 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 the business. BlackRock Inc. bought a new stake in shares of Vita Coco in the 2nd quarter valued at $463,654,000. Congress Asset Management Co. lifted its holdings in Vita Coco by 2.8% during the third quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company’s stock valued at $71,015,000 after purchasing an additional 33,219 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Vita Coco by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock worth $51,422,000 after buying an additional 61,950 shares during the period. Bank of America Corp DE purchased a new position in shares of Vita Coco in the second quarter valued at $56,722,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Vita Coco by 7,660.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 724,283 shares of the company’s stock valued at $41,291,000 after buying an additional 714,950 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Oppenheimer started coverage on Vita Coco in a report on Thursday, October 1st. They set an “outperform” rating and a $70.00 price target for the company. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings cut Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Evercore restated an “outperform” rating on shares of Vita Coco in a research note on Friday, October 23rd. Finally, Morgan Stanley upped their target price on Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average price target of $74.12.
Read Our Latest Stock Report on Vita Coco
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.
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