Jane Prior Sells 50,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the completion of the transaction, the chief marketing officer directly owned 127,399 shares in the company, valued at $6,741,955.08. This trade represents a 28.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vita Coco Stock Up 2.0%

NASDAQ COCO traded up $1.02 during trading hours on Monday, hitting $52.74. The company’s stock had a trading volume of 883,218 shares, compared to its average volume of 945,796. The stock has a fifty day moving average of $54.61 and a 200 day moving average of $47.94. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $59.88. The firm has a market capitalization of $3.01 billion, a P/E ratio of 44.69, a PEG ratio of 1.63 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. Vita Coco’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. On average, analysts predict 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 added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Vita Coco in the third quarter valued at about $62,815,000. Wellington Management Group LLP raised its position in shares of Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in shares of Vita Coco during the 4th quarter valued at about $73,242,000. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco in the 3rd quarter valued at approximately $45,135,000. Finally, Millennium Management LLC grew its position in shares of Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after purchasing an additional 762,731 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Wells Fargo & Company raised their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Jefferies Financial Group boosted their target price on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wall Street Zen cut Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Evercore reiterated an “outperform” rating and issued a $58.00 price target on shares of Vita Coco in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

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.