Vita Coco (NASDAQ:COCO) Insider Es Charles Van Sells 2,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 2,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $57.98, for a total value of $115,960.00. Following the transaction, the insider owned 79,691 shares in the company, valued at $4,620,484.18. This represents a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Vita Coco Trading Down 1.3%

COCO traded down $0.72 during trading on Thursday, hitting $55.18. The company’s stock had a trading volume of 34,048 shares, compared to its average volume of 949,228. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 46.88, a P/E/G ratio of 1.83 and a beta of 0.37. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $61.39. The business’s fifty day simple moving average is $55.23 and its 200 day simple moving average is $48.96.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund raised its holdings in Vita Coco by 10.3% in the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock valued at $21,703,000 after acquiring an additional 47,632 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco during the 3rd quarter worth approximately $45,135,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Vita Coco in the third quarter valued at approximately $2,230,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Vita Coco in the third quarter valued at approximately $821,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $62,815,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Morgan Stanley raised their price target on shares of Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Piper Sandler lifted their price objective on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average price target 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.