Vita Coco (NASDAQ:COCO) Director Kenneth Sadowsky Sells 3,900 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $56.92, for a total transaction of $221,988.00. Following the completion of the transaction, the director owned 590,466 shares of the company’s stock, valued at $33,609,324.72. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, January 21st, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $53.92, for a total value of $210,288.00.

Vita Coco Trading Down 1.0%

COCO opened at $53.45 on Friday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $61.39. The stock has a market capitalization of $3.05 billion, a PE ratio of 45.03, a PEG ratio of 1.76 and a beta of 0.37. The firm has a 50-day moving average price of $55.21 and a two-hundred day moving average price of $49.00.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in Vita Coco during the third quarter worth about $62,815,000. Wellington Management Group LLP grew its stake in Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco in the fourth quarter valued at approximately $73,242,000. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco during the 3rd quarter worth approximately $45,135,000. Finally, Millennium Management LLC raised its stake in shares of Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Piper Sandler upped their target price on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. 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. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Seven equities research 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 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.