Beverages Sa Verlinvest Sells 3,766,762 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the sale, the insider now owns 7,097,161 shares in the company, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Vita Coco Price Performance

Shares of NASDAQ COCO traded up $1.01 during midday trading on Friday, hitting $35.62. The stock had a trading volume of 1,785,716 shares, compared to its average volume of 622,000. The firm has a market cap of $2.02 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32. The company's 50-day simple moving average is $32.32 and its 200 day simple moving average is $34.68.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. During the same period in the prior year, the company posted $0.24 EPS. The company's revenue was up 17.2% compared to the same quarter last year. Equities analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on COCO. Wells Fargo & Company reduced their price target on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Stephens restated an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI increased their target price on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.38.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company's stock valued at $1,969,000 after purchasing an additional 46,385 shares in the last quarter. GAMMA Investing LLC lifted its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. West Coast Financial LLC increased its holdings in shares of Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after buying an additional 1,109 shares in the last quarter. SG Americas Securities LLC raised its holdings in Vita Coco by 94.2% in the 4th quarter. SG Americas Securities LLC now owns 23,707 shares of the company's stock valued at $875,000 after buying an additional 11,500 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco in the fourth quarter worth $52,000. 88.49% of the stock is 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.