Vita Coco (NASDAQ:COCO) COO Jonathan Burth Sells 30,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. This trade represents a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Burth also recently made the following trade(s):

• On Friday, May 8th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $70.00, for a total transaction of $1,400,000.00.
• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $67.50, for a total transaction of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The stock was sold at an average price of $63.75, for a total value of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The stock was sold at an average price of $58.65, for a total value of $3,519,000.00.

Vita Coco Stock Up 0.2%

COCO traded up $0.16 during trading on Wednesday, reaching $74.77. The company had a trading volume of 1,762,717 shares, compared to its average volume of 1,278,384. The stock has a market cap of $4.27 billion, a P/E ratio of 54.58, a PEG ratio of 1.74 and a beta of 0.72. The business has a 50 day simple moving average of $54.50 and a 200-day simple moving average of $52.62. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $76.35.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.Vita Coco’s revenue was up 37.4% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. As a group, equities research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Institutional Trading of Vita Coco

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its holdings in shares of Vita Coco by 39.2% in the first quarter. First Trust Advisors LP now owns 357,889 shares of the company’s stock valued at $17,146,000 after acquiring an additional 100,791 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Vita Coco by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock valued at $51,422,000 after acquiring an additional 61,950 shares in the last quarter. KBC Group NV bought a new stake in shares of Vita Coco in the first quarter valued at about $86,000. Bank of New York Mellon Corp increased its position in Vita Coco by 73.9% during the 1st quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock valued at $12,139,000 after purchasing an additional 107,684 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new position in Vita Coco during the 1st quarter valued at about $308,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COCO has been the subject of a number of analyst reports. Morgan Stanley set a $65.00 price target on Vita Coco in a research report on Thursday, April 30th. Evercore restated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Jefferies Financial Group lifted their target price on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $70.00 target price on shares of Vita Coco in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

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.