Vita Coco (NASDAQ:COCO) Director Jane Cecil Morreau Sells 15,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Jane Cecil Morreau sold 15,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the transaction, the director owned 17,179 shares of the company’s stock, valued at $926,119.89. This represents a 46.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Vita Coco Stock Performance

Shares of COCO opened at $55.24 on Wednesday. The stock has a market capitalization of $3.15 billion, a PE ratio of 46.81, a P/E/G ratio of 1.69 and a beta of 0.38. The company’s fifty day moving average is $54.35 and its 200 day moving average is $46.62. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $59.88.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $117.80 million. During the same quarter last year, the business earned $0.06 EPS. Vita Coco’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “sell” rating in a research report on Saturday. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Morgan Stanley increased their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Finally, Evercore reaffirmed an “outperform” rating and set a $58.00 target price on shares of Vita Coco in a research note on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Institutional Investors Weigh In On Vita Coco

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Vita Coco in the 3rd quarter worth about $62,815,000. Wellington Management Group LLP boosted its holdings in shares of Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Vita Coco in the fourth quarter valued at approximately $73,242,000. Westfield Capital Management Co. LP bought a new position in Vita Coco in the third quarter worth approximately $45,135,000. Finally, Millennium Management LLC increased its holdings in Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.