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

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $51.62, for a total transaction of $201,318.00. Following the completion of the sale, the director directly owned 612,166 shares of the company’s stock, valued at approximately $31,600,008.92. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 19th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $47.12, for a total value of $183,768.00.
• On Wednesday, October 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $38.91, for a total value of $151,749.00.

Vita Coco Price Performance

Vita Coco stock traded up $1.25 during mid-day trading on Thursday, reaching $52.48. 612,481 shares of the stock traded hands, compared to its average volume of 811,151. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $55.29. The business’s 50-day moving average is $46.37 and its 200-day moving average is $40.21. The stock has a market capitalization of $2.99 billion, a PE ratio of 45.64, a price-to-earnings-growth ratio of 1.74 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 37.2% on a year-over-year basis. Equities analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

Institutional investors and hedge funds have recently bought and sold shares of the business. Mariner LLC lifted its position in shares of Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after acquiring an additional 236 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after purchasing an additional 298 shares during the period. Schroder Investment Management Group raised its stake in Vita Coco by 3.2% during the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after purchasing an additional 376 shares during the period. Cim LLC lifted its holdings in Vita Coco by 3.8% in the 2nd quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after purchasing an additional 514 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Vita Coco by 1.5% in the 1st quarter. Credit Agricole S A now owns 36,140 shares of the company’s stock worth $1,108,000 after purchasing an additional 521 shares during the period. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COCO. Jefferies Financial Group boosted their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Needham & Company LLC assumed coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a report on Monday. Wells Fargo & Company boosted their price target on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $51.88.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.