The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $278,160.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director John Zupo sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $34.77, for a total value of $278,160.00. Following the sale, the director now directly owns 8,876 shares in the company, valued at approximately $308,618.52. This represents a 47.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Vita Coco Price Performance

Shares of COCO traded up $0.27 during mid-day trading on Thursday, reaching $34.26. 179,679 shares of the company's stock traded hands, compared to its average volume of 614,649. The stock has a market cap of $1.94 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.25 and a beta of 0.38. The stock's 50-day moving average is $32.31 and its two-hundred day moving average is $34.58. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock worth $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Vanguard Group Inc. grew its stake in Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock worth $80,987,000 after purchasing an additional 53,172 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Vita Coco by 14.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after purchasing an additional 185,692 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Vita Coco by 15.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock worth $52,486,000 after purchasing an additional 193,420 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock worth $41,713,000 after purchasing an additional 64,011 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COCO shares. Stephens reaffirmed an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Evercore ISI boosted their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Vita Coco currently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

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.