Vita Coco (NASDAQ:COCO) Insider Sells 2,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 2,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.67, for a total transaction of $97,340.00. Following the completion of the sale, the insider owned 77,691 shares of the company’s stock, valued at approximately $3,781,220.97. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Price Performance

Vita Coco stock traded down $0.35 during mid-day trading on Thursday, reaching $48.24. 787,900 shares of the company were exchanged, compared to its average volume of 1,174,841. The firm has a market cap of $2.75 billion, a PE ratio of 40.88, a PEG ratio of 1.51 and a beta of 0.47. The company has a fifty day simple moving average of $54.68 and a 200-day simple moving average of $49.90. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $61.39.

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

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of COCO. Wilmington Savings Fund Society FSB bought a new stake in shares of Vita Coco during the third quarter worth about $62,815,000. Wellington Management Group LLP raised its holdings in Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after buying an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco in the 4th quarter valued at approximately $73,242,000. Westfield Capital Management Co. LP acquired a new stake in Vita Coco during the 3rd quarter worth approximately $45,135,000. Finally, Millennium Management LLC boosted its position 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 buying an additional 762,731 shares during the period. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

COCO has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Friday, March 27th. Morgan Stanley lifted their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Finally, Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

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.