Vita Coco (NASDAQ:COCO) Shares Down 4.1% - Here's What Happened

Key Points

• Vita Coco's stock fell 4.1% to $40.08, with trading volume down 61% compared to its average, indicating a significant decline in investor interest.
• Analysts' ratings are mixed, with six recommending a Buy, four a Hold, and one a Strong Sell, while the consensus target price sits at $40.63.
• Recent insider trading saw COO Jonathan Burth and CEO Martin Roper selling shares, reflecting a 4% and 0.64% decrease in their ownership, respectively.

Shares of Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) fell 4.1% on Monday . The stock traded as low as $40.34 and last traded at $40.08. 306,961 shares changed hands during trading, a decline of 61% from the average session volume of 785,613 shares. The stock had previously closed at $41.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on shares of Vita Coco from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Zacks Research downgraded Vita Coco from a "hold" rating to a "strong sell" rating in a research report on Thursday. Morgan Stanley boosted their price target on Vita Coco from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, September 25th. Needham & Company LLC started coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a "hold" rating for the company. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $40.63.

Vita Coco Price Performance

The business's fifty day simple moving average is $37.68 and its two-hundred day simple moving average is $35.53. The company has a market cap of $2.26 billion, a PE ratio of 37.21, a PEG ratio of 2.72 and a beta of 0.40.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued 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 company had revenue of $168.76 million during the quarter, compared to analyst estimates of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 3,173 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $42.50, for a total value of $134,852.50. Following the completion of the sale, the chief operating officer owned 76,127 shares of the company's stock, valued at approximately $3,235,397.50. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martin Roper sold 1,835 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $42.74, for a total value of $78,427.90. Following the completion of the sale, the chief executive officer directly owned 287,062 shares of the company's stock, valued at $12,269,029.88. This trade represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,463,800 shares of company stock valued at $141,214,319 over the last 90 days. Company insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. TT International Asset Management LTD acquired a new position in shares of Vita Coco in the first quarter worth $3,035,000. Invesco Ltd. increased its holdings 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 buying an additional 78,229 shares during the last quarter. Northern Trust Corp lifted its stake in Vita Coco by 3.4% during 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 during the last quarter. Wellington Management Group LLP boosted its holdings in Vita Coco by 102.2% in 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 raised its stake in Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock worth $859,000 after acquiring an additional 25,544 shares in the last quarter. 88.49% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.