Vita Coco (NASDAQ:COCO) Shares Down 4.4% – Time to Sell?

The Vita Coco Company, Inc. (NASDAQ:COCO) shares dropped 4.4% on Thursday . The company traded as low as $35.18 and last traded at $35.27. Approximately 192,973 shares traded hands during trading, a decline of 68% from the average daily volume of 594,160 shares. The stock had previously closed at $36.91.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America upped their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Vita Coco Price Performance

The company has a market cap of $1.98 billion, a P/E ratio of 35.26, a PEG ratio of 2.42 and a beta of 0.31. The business’s 50 day moving average price is $35.05 and its 200-day moving average price is $29.92.

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

Insider Transactions at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.35, for a total transaction of $176,750.00. Following the transaction, the chief executive officer now directly owns 447,452 shares in the company, valued at approximately $15,817,428.20. This represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 1,400 shares of Vita Coco stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $30.04, for a total transaction of $42,056.00. Following the sale, the chief operating officer now owns 121,900 shares of the company’s stock, valued at approximately $3,661,876. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,929 shares of company stock worth $5,324,683. Corporate insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its holdings in Vita Coco by 21.1% in the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after purchasing an additional 80,128 shares during the last quarter. TT International Asset Management LTD increased its stake in shares of Vita Coco by 1,643.7% in the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after acquiring an additional 170,797 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after acquiring an additional 101,823 shares during the period. Barclays PLC boosted its stake in Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Vita Coco during the third quarter valued at approximately $348,000. 88.49% of the stock is owned by institutional investors.

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.