Vita Coco (NASDAQ:COCO) CFO Corey Baker Sells 1,000 Shares

Key Points

• Vita Coco's CFO, Corey Baker, sold 1,000 shares of the company's stock on September 18th for a total of $40,000, resulting in a 2.52% decrease in his ownership.
• The company's stock dropped 7.2% during midday trading, closing at $39.26, while trading volumes surpassed 4 million shares.
• Analysts have issued mixed ratings, with five rating the stock as a Buy and three as a Hold, reflecting a consensus target price of $38.38.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the transaction, the chief financial officer owned 38,754 shares in the company, valued at approximately $1,550,160. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corey Baker also recently made the following trade(s):

• On Friday, September 12th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $40.00, for a total value of $40,000.00.
• On Monday, September 15th, Corey Baker sold 1,000 shares of Vita Coco stock. The stock was sold at an average price of $40.00, for a total value of $40,000.00.
• On Wednesday, September 10th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.16, for a total value of $38,160.00.
• On Monday, September 8th, Corey Baker sold 1,000 shares of Vita Coco stock. The stock was sold at an average price of $38.51, for a total value of $38,510.00.
• On Friday, September 5th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00.

Vita Coco Trading Down 7.2%

Vita Coco stock traded down $3.04 during midday trading on Thursday, hitting $39.26. 4,039,601 shares of the stock were exchanged, compared to its average volume of 880,754. The stock's 50-day simple moving average is $36.42 and its 200 day simple moving average is $34.69. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $42.81. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.24 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its 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. The company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. Vita Coco's revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. Equities analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MAI Capital Management acquired a new stake in Vita Coco during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after acquiring an additional 1,344 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Vita Coco in the second quarter valued at $50,000. CWM LLC boosted its holdings in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after purchasing an additional 367 shares during the period. Finally, Amitell Capital Pte Ltd acquired a new position in Vita Coco during the 2nd quarter worth $114,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Morgan Stanley upped their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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