Vita Coco (NASDAQ:COCO) Chairman Sells $1,251,600.00 in Stock

Key Points

• Michael Kirban, Chairman of Vita Coco, sold 30,000 shares for a total of $1,251,600 on September 17, reducing his ownership by 1.90% to 1,549,049 shares valued at approximately $64.6 million.
17.1% year-over-year revenue growth for the last quarter, achieving $168.76 million in revenue and an EPS of $0.38, which exceeded analysts' expectations.
• Institutional investors now hold 88.49% of Vita Coco's stock, indicating strong confidence in the company's potential among large investment firms.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Chairman Michael Kirban sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $41.72, for a total transaction of $1,251,600.00. Following the transaction, the chairman directly owned 1,549,049 shares of the company's stock, valued at $64,626,324.28. This trade represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00.

Vita Coco Price Performance

Shares of COCO stock traded up $0.47 during trading hours on Friday, reaching $39.73. The stock had a trading volume of 2,075,385 shares, compared to its average volume of 772,113. The firm has a market capitalization of $2.26 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 2.24 and a beta of 0.36. The firm has a 50-day simple moving average of $36.42 and a 200-day simple moving average of $34.69. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on COCO shares. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective for the company in a report on Wednesday, August 20th. Morgan Stanley upped their price target on Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Wells Fargo & Company upped their price target on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently made changes to their positions in the stock. TT International Asset Management LTD bought a new position in shares of Vita Coco in the first quarter worth $3,035,000. Invesco Ltd. grew its position in Vita Coco by 398.5% in the first quarter. Invesco Ltd. now owns 97,862 shares of the company's stock valued at $2,999,000 after acquiring an additional 78,229 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Vita Coco by 3.4% during the first quarter. Northern Trust Corp now owns 424,987 shares of the company's stock valued at $13,026,000 after purchasing an additional 13,814 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Vita Coco by 102.2% during the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after purchasing an additional 258,521 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 25,544 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

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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