Vita Coco (NASDAQ:COCO) Director Sells $190,827.00 in Stock

Key Points

• Director Kenneth Sadowsky sold 3,900 Vita Coco shares on April 15 at an average price of $48.93 for $190,827, leaving him with 586,566 shares (a 0.66% ownership decrease); the trade was executed under a Rule 10b5-1 plan.
• Vita Coco reported Q results with EPS of $0.09 versus $0.13 expected (a miss) but revenue of $127.79M beat estimates, while the stock trades around $48.33 (down ~2.9%), has a $2.76B market cap and an average analyst target of $59.43 ("Moderate Buy").
• Sadowsky has made similar dispositions earlier this year—selling 3,900 shares in both January and March—suggesting a pattern of periodic insider sales.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $48.93, for a total transaction of $190,827.00. Following the completion of the transaction, the director directly owned 586,566 shares of the company's stock, valued at approximately $28,700,674.38. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $56.92, for a total transaction of $221,988.00.
• On Wednesday, January 21st, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00.

Vita Coco Trading Down 2.9%

Shares of COCO stock traded down $1.46 on Thursday, reaching $48.33. The company's stock had a trading volume of 895,898 shares, compared to its average volume of 1,164,930. The stock's fifty day simple moving average is $53.63 and its 200-day simple moving average is $50.52. Vita Coco Company, Inc. has a 1 year low of $29.74 and a 1 year high of $61.39. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.47.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The business had revenue of $127.79 million during the quarter, compared to analysts' expectations of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company's revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. Equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Zacks Research lowered shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vita Coco in a research note on Friday, March 27th. Morgan Stanley lifted their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. Wells Fargo & Company dropped their price objective on shares of Vita Coco from $63.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Evercore reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and a consensus target price of $59.43.

Institutional Trading of Vita Coco

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund lifted its position in shares of Vita Coco by 10.3% during the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after purchasing an additional 47,632 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Vita Coco during the third quarter worth $45,135,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Vita Coco during the third quarter worth $2,230,000. Harbor Capital Advisors Inc. bought a new stake in shares of Vita Coco during the third quarter worth $821,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Vita Coco during the third quarter worth $62,815,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Company Profile

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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