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 business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $35.12, for a total value of $351,200.00. Following the sale, the chief marketing officer now directly owns 134,188 shares in the company, valued at $4,712,682.56. This trade represents a 6.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Vita Coco Trading Up 2.5%

Shares of NASDAQ COCO traded up $0.88 during midday trading on Monday, reaching $36.00. 616,430 shares of the stock were exchanged, compared to its average volume of 612,548. The stock has a 50 day moving average price of $33.89 and a 200-day moving average price of $34.67. The company has a market capitalization of $2.04 billion, a P/E ratio of 35.64, a P/E/G ratio of 1.86 and a beta of 0.39. Vita Coco Company, Inc. has a 52-week low of $23.56 and a 52-week high of $40.32.

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

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in Vita Coco by 15.9% in the 4th quarter. Principal Financial Group Inc. now owns 43,288 shares of the company's stock worth $1,598,000 after buying an additional 5,940 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco during the 4th quarter worth about $66,000. New York State Common Retirement Fund boosted its position in shares of Vita Coco by 12.9% in the fourth quarter. New York State Common Retirement Fund now owns 341,853 shares of the company's stock worth $12,618,000 after acquiring an additional 39,008 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Vita Coco by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 125,784 shares of the company's stock valued at $4,643,000 after purchasing an additional 1,650 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Vita Coco by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company's stock valued at $12,009,000 after purchasing an additional 1,329 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on COCO. Wells Fargo & Company boosted their target price on Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Evercore ISI raised their target price 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. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Stephens reiterated an "equal weight" rating and issued a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.88.

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.