Jonathan Burth Sells 2,244 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vita Coco Stock Down 0.6 %

Shares of COCO stock traded down $0.18 during trading hours on Tuesday, hitting $28.13. 307,373 shares of the company’s stock traded hands, compared to its average volume of 640,368. The stock’s fifty day simple moving average is $26.20 and its two-hundred day simple moving average is $26.41. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $31.42. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.53 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business had revenue of $144.00 million for the quarter, compared to the consensus estimate of $144.08 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Syon Capital LLC bought a new position in shares of Vita Coco in the fourth quarter worth approximately $113,931,000. Champlain Investment Partners LLC purchased a new position in Vita Coco in the 1st quarter worth approximately $18,210,000. Victory Capital Management Inc. lifted its position in Vita Coco by 1,310.1% in the 2nd quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock valued at $12,086,000 after acquiring an additional 403,192 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Vita Coco during the 2nd quarter valued at $9,859,000. Finally, Vanguard Group Inc. increased its holdings in shares of Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after purchasing an additional 230,991 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America boosted their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler cut shares of Vita Coco from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $28.00 in a research report on Friday, July 12th. Finally, Jefferies Financial Group reduced their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.17.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.