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

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $4,343,250. The trade was a 34.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 value 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 value of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The shares were 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 shares were sold at an average price of $58.65, for a total value of $3,519,000.00.

Vita Coco Price Performance

COCO opened at $76.44 on Friday. The business has a 50 day simple moving average of $55.35 and a two-hundred day simple moving average of $53.12. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 1.79 and a beta of 0.72. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $77.01.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The business had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter in the prior year, the company posted $0.31 EPS. Vita Coco’s quarterly revenue was up 37.4% compared to the same quarter last year. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley set a $65.00 target price on Vita Coco in a research report on Thursday, April 30th. Wells Fargo & Company increased their target price on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Wednesday, April 29th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group increased 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of Vita Coco by 118.6% in the 1st quarter. Sei Investments Co. now owns 163,091 shares of the company’s stock worth $7,814,000 after buying an additional 88,481 shares during the last quarter. State of Wyoming grew its stake in shares of Vita Coco by 536.7% in the 1st quarter. State of Wyoming now owns 9,952 shares of the company’s stock worth $477,000 after buying an additional 8,389 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Vita Coco by 39.2% in the 1st quarter. First Trust Advisors LP now owns 357,889 shares of the company’s stock worth $17,146,000 after buying an additional 100,791 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Vita Coco by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock worth $51,422,000 after buying an additional 61,950 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Vita Coco in the 1st quarter worth approximately $86,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.