Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior Sells 10,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CMO Jane Prior sold 10,000 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $35.12, for a total transaction of $351,200.00. Following the sale, the chief marketing officer now directly owns 134,188 shares of the company's stock, valued at approximately $4,712,682.56. The trade was a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Vita Coco Price Performance

COCO traded down $0.58 during trading on Friday, reaching $35.12. 528,567 shares of the company's stock were exchanged, compared to its average volume of 613,876. Vita Coco Company, Inc. has a 1 year low of $23.56 and a 1 year high of $40.32. The stock has a market capitalization of $1.99 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39. The company's fifty day simple moving average is $33.89 and its 200-day simple moving average is $34.69.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. Vita Coco had a net margin of 11.32% and a return on equity of 25.08%. Vita Coco's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Evercore ISI upped their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Stephens restated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Finally, Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and an average target price of $35.88.

Hedge Funds Weigh In On Vita Coco

Institutional investors have recently made changes to their positions in the company. Coppell Advisory Solutions LLC increased its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco during the 4th quarter valued at approximately $66,000. CWM LLC increased its holdings in shares of Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after purchasing an additional 367 shares in the last quarter. Militia Capital Partners LP increased its holdings in shares of Vita Coco by 60.0% during the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock valued at $98,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Vita Coco in the 1st quarter worth $111,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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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