Vita Coco (NASDAQ:COCO) Director Kenneth Sadowsky Sells 3,900 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total transaction of $302,133.00. Following the completion of the sale, the director owned 582,666 shares in the company, valued at $45,139,135.02. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total transaction of $190,827.00.
• On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $56.92, for a total transaction of $221,988.00.

Vita Coco Stock Up 1.2%

Shares of COCO stock traded up $0.95 during trading hours on Thursday, hitting $78.83. 855,344 shares of the company’s stock traded hands, compared to its average volume of 1,266,664. The stock’s 50 day simple moving average is $57.34 and its 200 day simple moving average is $54.11. The stock has a market cap of $4.50 billion, a PE ratio of 57.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.72. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $79.70.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. The firm had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, equities research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. Wasatch Advisors LP raised its stake in Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Vita Coco during the third quarter worth $62,815,000. Wellington Management Group LLP raised its stake in Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $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 during the fourth quarter worth $73,242,000. Finally, Westfield Capital Management Co. LP bought a new position in Vita Coco during the third quarter worth $45,135,000. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COCO. Wells Fargo & Company raised their price target on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday. Evercore reaffirmed an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. Finally, Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.43.

About Vita Coco

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.