Martin Roper Sells 25,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• Martin Roper sold 25,000 shares at an average price of $50.95 on April 8 for $1,273,750, trimming his stake by 7.73% to 298,484 shares; the sale was executed under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
• Vita Coco shares recently traded at $48.83 (down $0.33), valuing the company at about $2.79 billion and sitting in a 12‑month range of $29.74 to $61.39 with 50‑day/200‑day moving averages of $54.20/$50.20.
• The company reported quarterly EPS of $0.09 (missing the $0.13 consensus) on $127.79 million in revenue, and analysts have a consensus rating of Moderate Buy with an average price target of $59.43.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $50.95, for a total transaction of $1,273,750.00. Following the completion of the sale, the chief executive officer directly owned 298,484 shares of the company's stock, valued at $15,207,759.80. The trade was a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.33 on Thursday, hitting $48.83. The company had a trading volume of 1,115,422 shares, compared to its average volume of 1,171,544. The firm has a market capitalization of $2.79 billion, a P/E ratio of 41.38, a P/E/G ratio of 1.52 and a beta of 0.47. Vita Coco Company, Inc. has a twelve month low of $29.74 and a twelve month high of $61.39. The stock has a 50-day moving average of $54.20 and a 200-day moving average of $50.20.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. Equities analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COCO. Zacks Research cut shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. Wall Street Zen cut shares of Vita Coco from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Evercore reiterated an "outperform" rating and issued a $70.00 price target on shares of Vita Coco in a report on Thursday, March 12th. Morgan Stanley upped their price target on shares of Vita Coco from $49.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Vita Coco from $63.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.43.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its stake in Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock valued at $21,703,000 after acquiring an additional 47,632 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Vita Coco in the third quarter valued at $45,135,000. Hussman Strategic Advisors Inc. acquired a new stake in Vita Coco in the third quarter valued at $2,230,000. Harbor Capital Advisors Inc. acquired a new stake in Vita Coco in the third quarter valued at $821,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Vita Coco in the third quarter valued at $62,815,000. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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