Vita Coco (NASDAQ:COCO) Chairman Michael Kirban Sells 20,000 Shares

Key Points

• Chairman Michael Kirban of Vita Coco sold 20,000 shares of the company at an average price of $41.53, totaling approximately $830,600, reducing his ownership by 1.29%.
• The company recently reported a 17.1% revenue increase year-over-year, with earnings per share of $0.38 for the last quarter, which exceeded analyst expectations.
• Vita Coco's stock has a market capitalization of $2.34 billion and analysts have given it an average rating of "Moderate Buy" with a target price of $38.38.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $41.53, for a total value of $830,600.00. Following the sale, the chairman owned 1,529,049 shares in the company, valued at $63,501,404.97. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Michael Kirban also recently made the following trade(s):

• On Wednesday, September 17th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $41.72, for a total transaction of $1,251,600.00.
• On Thursday, September 11th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $39.05, for a total transaction of $781,000.00.
• On Tuesday, September 9th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00.

Vita Coco Stock Performance

Shares of COCO traded up $0.20 during midday trading on Tuesday, hitting $41.19. 1,214,775 shares of the stock traded hands, compared to its average volume of 781,441. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $42.81. The firm has a market capitalization of $2.34 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 2.10 and a beta of 0.36. The business's 50 day moving average price is $36.53 and its two-hundred day moving average price is $34.81.

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 (EPS) 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 company had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company'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. As a group, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COCO. 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 report on Wednesday, August 20th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Wells Fargo & Company raised their price objective 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, Morgan Stanley raised 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 report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.38.

Institutional Trading of Vita Coco

Hedge funds have recently made changes to their positions in the stock. TT International Asset Management LTD purchased a new stake in shares of Vita Coco in the first quarter worth approximately $3,035,000. Invesco Ltd. lifted its position in shares of Vita Coco by 398.5% in the first quarter. Invesco Ltd. now owns 97,862 shares of the company's stock worth $2,999,000 after purchasing an additional 78,229 shares in the last quarter. Northern Trust Corp lifted its position in shares of Vita Coco by 3.4% in the first quarter. Northern Trust Corp now owns 424,987 shares of the company's stock worth $13,026,000 after purchasing an additional 13,814 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after purchasing an additional 258,521 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Vita Coco by 3,258.2% during the first quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock valued at $859,000 after acquiring an additional 25,544 shares in the last quarter. 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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