Vita Coco (NASDAQ:COCO) Director Sells $201,318.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $51.62, for a total value of $201,318.00. Following the transaction, the director owned 612,166 shares of the company’s stock, valued at approximately $31,600,008.92. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 19th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $47.12, for a total transaction of $183,768.00.
• On Wednesday, October 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $38.91, for a total transaction of $151,749.00.

Vita Coco Trading Up 2.4%

NASDAQ COCO traded up $1.25 during trading on Thursday, hitting $52.48. The company had a trading volume of 612,481 shares, compared to its average volume of 811,151. The company’s fifty day moving average is $46.37 and its 200-day moving average is $40.21. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $55.29. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 45.64, a price-to-earnings-growth ratio of 1.74 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. Vita Coco’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, equities analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on COCO shares. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research note on Monday. Wells Fargo & Company raised their price objective on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Piper Sandler boosted their target price on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Evercore ISI increased their price target on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Jefferies Financial Group boosted their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.88.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently added to or reduced their stakes in COCO. Mariner LLC boosted its stake in Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Vita Coco by 0.9% during the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after buying an additional 298 shares during the last quarter. Schroder Investment Management Group increased its holdings in Vita Coco by 3.2% in the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after buying an additional 376 shares in the last quarter. Cim LLC increased its holdings in Vita Coco by 3.8% in the 2nd quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after buying an additional 514 shares in the last quarter. Finally, Credit Agricole S A raised its position in Vita Coco by 1.5% in the 1st quarter. Credit Agricole S A now owns 36,140 shares of the company’s stock worth $1,108,000 after buying an additional 521 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.