Vita Coco (NASDAQ:COCO) CFO Corey Baker Sells 2,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $57.98, for a total transaction of $115,960.00. Following the completion of the transaction, the chief financial officer directly owned 31,951 shares of the company’s stock, valued at $1,852,518.98. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Corey Baker also recently made the following trade(s):

• On Friday, March 13th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $58.86, for a total value of $117,720.00.

Vita Coco Stock Down 4.1%

Shares of Vita Coco stock opened at $58.14 on Wednesday. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 1.91 and a beta of 0.37. The stock’s 50-day simple moving average is $55.20 and its 200-day simple moving average is $48.91. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $61.39.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 EPS. On average, equities analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after acquiring an additional 501 shares during the last quarter. Clearstead Advisors LLC increased its position in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP raised its stake in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares in the last quarter. MAI Capital Management purchased a new stake in Vita Coco during the second quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC lifted its position in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COCO has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. The Goldman Sachs Group upped their target price on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Piper Sandler raised their target price on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Evercore reiterated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a report on Thursday, March 12th. Finally, Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

About Vita Coco

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.