The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells $143,894.88 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 3,888 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $37.01, for a total transaction of $143,894.88. Following the completion of the sale, the chief marketing officer now directly owns 131,834 shares of the company’s stock, valued at $4,879,176.34. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Vita Coco Stock Down 0.8 %

Shares of COCO stock opened at $35.62 on Thursday. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $37.05. The company has a 50 day moving average of $31.33 and a 200-day moving average of $28.43. The firm has a market cap of $2.02 billion, a P/E ratio of 35.98, a PEG ratio of 2.37 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after acquiring an additional 230,991 shares during the last quarter. Geode Capital Management LLC grew its position in Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after acquiring an additional 101,823 shares in the last quarter. Victory Capital Management Inc. increased its stake in Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares during the last quarter. Finally, State Street Corp increased its stake in Vita Coco by 4.7% in the third quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after acquiring an additional 39,431 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.