Vita Coco (NASDAQ:COCO) CMO Jane Prior Sells 50,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 50,000 shares of Vita Coco stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the completion of the transaction, the chief marketing officer directly owned 127,399 shares in the company, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Vita Coco Trading Up 2.0%

Shares of COCO stock traded up $1.02 during trading hours on Monday, hitting $52.74. 883,218 shares of the company were exchanged, compared to its average volume of 945,796. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $59.88. The business has a 50 day moving average of $54.61 and a two-hundred day moving average of $47.94. The company has a market capitalization of $3.01 billion, a PE ratio of 44.69, a PEG ratio of 1.63 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last posted 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). The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COCO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Evercore restated an “outperform” rating and issued a $58.00 target price on shares of Vita Coco in a research note on Thursday, February 19th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Morgan Stanley raised their price target on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Finally, Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Hedge Funds Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after acquiring an additional 501 shares during the last quarter. Clearstead Advisors LLC boosted its position in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP grew its stake in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares in the last quarter. MAI Capital Management bought a new position in Vita Coco in the second quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

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.