Vita Coco (NASDAQ:COCO) COO Jonathan Burth Sells 16,827 Shares

Key Points

• COO Jonathan Burth sold 16,827 shares of Vita Coco stock for approximately $715,988, decreasing his ownership by 18.10%.
• Vita Coco's stock recently traded at $39.73, up 1.2% from previous trading, and the company reported revenue of $168.76 million for the last quarter, exceeding analyst expectations.
• Analysts maintain a consensus rating of "Moderate Buy" for Vita Coco, with price targets ranging from $38.00 to $45.00.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) COO Jonathan Burth sold 16,827 shares of Vita Coco stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $42.55, for a total value of $715,988.85. Following the sale, the chief operating officer owned 76,127 shares in the company, valued at $3,239,203.85. This trade represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Jonathan Burth also recently made the following trade(s):

• On Friday, September 12th, Jonathan Burth sold 10,000 shares of Vita Coco stock. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00.

Vita Coco Price Performance

Shares of COCO traded up $1.26 during mid-day trading on Monday, hitting $40.99. The stock had a trading volume of 2,016,465 shares, compared to its average volume of 1,110,066. The business has a fifty day moving average price of $36.53 and a 200-day moving average price of $34.81. The firm has a market cap of $2.33 billion, a P/E ratio of 38.31, a PEG ratio of 2.10 and a beta of 0.36. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $162.20 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm'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 expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

A number of hedge funds have recently modified their holdings of the business. Voya Investment Management LLC increased its stake in shares of Vita Coco by 3,376.9% in the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock worth $17,991,000 after acquiring an additional 570,087 shares in the last quarter. Marshall Wace LLP purchased a new stake in Vita Coco in the second quarter worth about $9,627,000. Wellington Management Group LLP grew its holdings in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after purchasing an additional 258,521 shares during the period. Victory Capital Management Inc. increased its stake in shares of Vita Coco by 62.2% during the first 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 in the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new position in shares of Vita Coco during the second quarter valued at approximately $5,054,000. Institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

COCO has been the subject of a number of research reports. Wall Street Zen cut shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Wells Fargo & Company increased their target price on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective for the company in a research note on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.