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

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $58.04, for a total transaction of $116,080.00. Following the completion of the sale, the chief financial officer owned 27,951 shares of the company’s stock, valued at $1,622,276.04. This trade represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, March 16th, Corey Baker sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.
• 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 2.0%

COCO opened at $52.88 on Friday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $61.39. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 1.70 and a beta of 0.37. The business has a 50 day moving average of $55.17 and a 200-day moving average of $49.12.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, February 18th. The company reported $0.09 EPS 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 the consensus estimate of $117.80 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. As a group, analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its stake in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after buying an additional 501 shares in the last quarter. Clearstead Advisors LLC increased its holdings in Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the period. Quarry LP raised its position in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares in the last quarter. MAI Capital Management acquired a new position in shares of Vita Coco in the 2nd quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Piper Sandler increased their price target on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Evercore restated an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.38.

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.