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

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, March 18th. The stock was sold at an average price of $56.92, for a total transaction of $221,988.00. Following the transaction, the director directly owned 590,466 shares of the company’s stock, valued at approximately $33,609,324.72. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, January 21st, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $53.92, for a total value of $210,288.00.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $52.88 on Friday. The business’s fifty day moving average price is $55.17 and its two-hundred day moving average price is $49.12. The stock has a market cap of $3.02 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.37. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $61.39.

Vita Coco (NASDAQ:COCO) last released its quarterly 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 return on equity of 23.19% and a net margin of 11.70%.The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently modified their holdings of COCO. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco in the third quarter valued at approximately $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 purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco in the 4th quarter valued at $73,242,000. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco in the 3rd quarter valued at $45,135,000. Finally, Millennium Management LLC grew its stake in shares of Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on COCO. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “hold” rating in a report on Saturday. Evercore reissued an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Morgan Stanley raised their target price 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, February 23rd. Finally, Wells Fargo & Company lifted their target price 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. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average price target of $56.38.

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.