The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Sells $10,515.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 300 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $35.05, for a total value of $10,515.00. Following the completion of the transaction, the chief executive officer now owns 442,152 shares of the company’s stock, valued at approximately $15,497,427.60. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vita Coco Trading Down 0.6 %

NASDAQ:COCO traded down $0.21 on Thursday, reaching $33.85. 296,646 shares of the stock traded hands, compared to its average volume of 622,948. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.30 and a beta of 0.22. The company’s fifty day simple moving average is $29.54 and its 200 day simple moving average is $27.77. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $36.41.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. During the same period in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research analyst reports. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COCO. nVerses Capital LLC boosted its holdings in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after buying an additional 1,900 shares during the period. CWM LLC boosted its stake in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares during the period. Quest Partners LLC grew its position in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after purchasing an additional 919 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after buying an additional 3,675 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Company Profile

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.