Corey Baker Sells 1,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• Corey Baker, CFO of Vita Coco, sold 1,000 shares of the company's stock on September 15th for a total of $40,000, decreasing his holdings by 2.52%.
• Vita Coco's stock price reached $39.79 on September 15th, reflecting a 1-year high of $40.71 and a market cap of $2.26 billion.
• Vita Coco reported $0.38 EPS for the last quarter, surpassing analysts' expectations and achieving a year-over-year revenue increase of 17.1%.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 1,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the transaction, the chief financial officer directly owned 38,754 shares of the company's stock, valued at $1,550,160. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Corey Baker also recently made the following trade(s):

• On Friday, September 12th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $40.00, for a total value of $40,000.00.
• On Wednesday, September 10th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.16, for a total value of $38,160.00.
• On Monday, September 8th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.51, for a total value of $38,510.00.
• On Friday, September 5th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.00, for a total value of $38,000.00.

Vita Coco Price Performance

COCO traded up $0.22 on Monday, reaching $39.79. The company's stock had a trading volume of 950,839 shares, compared to its average volume of 822,130. The business's 50 day moving average is $36.22 and its 200 day moving average is $34.55. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $40.71. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.09 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The company had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. During the same quarter last year, the business posted $0.32 EPS. Vita Coco's quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

Several hedge funds have recently added to or reduced their stakes in COCO. Voya Investment Management LLC raised its stake in Vita Coco by 3,376.9% during the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after acquiring an additional 570,087 shares in the last quarter. Bank of America Corp DE increased its position in shares of Vita Coco by 382.2% during the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after purchasing an additional 405,913 shares during the period. Marshall Wace LLP acquired a new position in shares of Vita Coco during the 2nd quarter valued at $9,627,000. Wellington Management Group LLP increased its position in shares of Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after purchasing an additional 258,521 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Vita Coco by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock valued at $19,776,000 after purchasing an additional 247,339 shares during the period. Institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on COCO. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Morgan Stanley increased their target price on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Wells Fargo & Company increased their target price on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target on the stock in a research report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.38.

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.

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