Vita Coco (NASDAQ:COCO) CFO Sells 1,000 Shares of Company Stock

Key Points

• CFO Corey Baker sold 1,000 Vita Coco shares for $60,000 at an average price of $60, under a pre-arranged Rule 10b5-1 trading plan. He retained 24,951 shares after the sale.
• Vita Coco reported quarterly EPS of $0.58, beating the $0.47 estimate, while revenue rose 33.7% year over year to $243.83 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $74.12; shares traded at $63.58 in Thursday’s session.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 1,000 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer owned 24,951 shares of the company's stock, valued at approximately $1,497,060. The trade was a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, November 4th, Corey Baker sold 5,000 shares of Vita Coco stock. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded down $1.89 during midday trading on Thursday, hitting $63.58. The company's stock had a trading volume of 1,088,811 shares, compared to its average volume of 1,238,788. Vita Coco Company, Inc. has a 1-year low of $40.62 and a 1-year high of $85.83. The firm's fifty day moving average price is $57.30 and its 200-day moving average price is $61.73. The firm has a market cap of $3.63 billion, a P/E ratio of 31.95, a P/E/G ratio of 1.53 and a beta of 0.76.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $243.83 million for the quarter, compared to analyst estimates of $230.10 million. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. Vita Coco's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, research analysts predict that Vita Coco Company, Inc. will post 2.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COCO has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Vita Coco from $85.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. William Blair reissued a "market perform" rating on shares of Vita Coco in a research note on Thursday, October 22nd. Morgan Stanley lifted their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded Vita Coco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, October 29th. Finally, The Goldman Sachs Group set a $90.00 price objective on Vita Coco and gave the stock a "buy" rating in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.12.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Fortitude Family Office LLC increased its position in shares of Vita Coco by 611.4% during the 3rd quarter. Fortitude Family Office LLC now owns 626 shares of the company's stock worth $36,000 after purchasing an additional 538 shares in the last quarter. Signature Equity Partners LLC acquired a new position in Vita Coco during the 3rd quarter worth $42,000. IFP Advisors Inc increased its position in Vita Coco by 210.4% in the second quarter. IFP Advisors Inc now owns 689 shares of the company's stock worth $46,000 after purchasing an additional 467 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after buying an additional 958 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Vita Coco in the 1st quarter worth $86,000. Institutional investors own 88.49% of the company's stock.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.

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