Beverages Sa Verlinvest Sells 3,000,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• Beverages Sa Verlinvest, a major shareholder of Vita Coco, sold 3,000,000 shares at an average price of $40.77, resulting in a total transaction value of $122.3 million.
• After the sale, Beverages Sa Verlinvest's ownership of Vita Coco decreased to 4,097,161 shares, which is a 42.27% reduction in their stake.
• Vita Coco reported a 17.1% year-over-year revenue increase in its latest quarterly earnings, with a revenue of $168.76 million and an EPS of $0.38, exceeding analysts' estimates.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $40.77, for a total transaction of $122,310,000.00. Following the sale, the insider directly owned 4,097,161 shares of the company's stock, valued at approximately $167,041,253.97. This trade represents a 42.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Vita Coco Stock Up 3.2%

Shares of NASDAQ COCO traded up $1.26 on Monday, hitting $40.99. The company had a trading volume of 2,016,465 shares, compared to its average volume of 1,110,066. The business has a 50 day moving average of $36.53 and a two-hundred day moving average of $34.81. The firm has a market capitalization of $2.33 billion, a P/E ratio of 38.31, a PEG ratio of 2.10 and a beta of 0.36. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data 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 last year, the company earned $0.32 earnings per share. Vita Coco's revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in COCO. MAI Capital Management bought a new position in Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after buying an additional 1,344 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Vita Coco in the 2nd quarter valued at about $50,000. CWM LLC grew its position in shares of Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after buying an additional 367 shares during the last quarter. Finally, Militia Capital Partners LP raised its stake in Vita Coco by 60.0% during the first quarter. Militia Capital Partners LP now owns 3,200 shares of the company's stock worth $98,000 after acquiring an additional 1,200 shares during the period. 88.49% of the stock is currently 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.