Vita Coco (NASDAQ:COCO) CFO Sells $40,000.00 in Stock

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 stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $40,000.00. Following the transaction, the chief financial officer directly owned 38,754 shares in the company, valued at $1,550,160. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction of $40,000.00.
• On Monday, September 15th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $40.00, for a total transaction 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 transaction of $38,160.00.
• On Monday, September 8th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.51, for a total transaction 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 Up 1.2%

NASDAQ COCO traded up $0.47 during trading hours on Friday, hitting $39.73. The company's stock had a trading volume of 2,075,385 shares, compared to its average volume of 1,041,227. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $42.81. The company has a market capitalization of $2.26 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.36. The company's 50-day simple moving average is $36.47 and its two-hundred day simple moving average is $34.73.

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 net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million for the quarter, compared to analysts' expectations of $162.20 million. During the same quarter last year, the firm earned $0.32 EPS. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. Research analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. Piper Sandler upgraded shares of 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. Morgan Stanley increased their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note 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 stock an "overweight" rating in a report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.38.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management bought a new position in shares of Vita Coco during the second quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its stake 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 valued at $49,000 after acquiring an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Vita Coco during the second quarter valued at about $50,000. CWM LLC raised its stake in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after acquiring an additional 367 shares during the last quarter. Finally, Militia Capital Partners LP raised its stake in shares of Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock valued at $98,000 after acquiring an additional 1,200 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

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.