Corey Baker Sells 2,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.86, for a total transaction of $117,720.00. Following the sale, the chief financial officer directly owned 33,951 shares in the company, valued at $1,998,355.86. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corey Baker also recently made the following trade(s):

• On Monday, March 16th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $57.98, for a total transaction of $115,960.00.

Vita Coco Stock Down 4.1%

Shares of COCO traded down $2.46 on Tuesday, hitting $58.14. 983,736 shares of the stock traded hands, compared to its average volume of 971,363. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $61.39. The stock’s 50 day moving average is $55.08 and its two-hundred day moving average is $48.76. The firm has a market capitalization of $3.32 billion, a P/E ratio of 49.27, a P/E/G ratio of 1.84 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last announced its earnings results 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 firm had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. Research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its position in Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after acquiring an additional 958 shares during the period. Virtu Financial LLC purchased a new position in shares of Vita Coco in the 4th quarter worth about $642,000. Invesco Ltd. raised its holdings in shares of Vita Coco by 13.9% in the 4th quarter. Invesco Ltd. now owns 50,206 shares of the company’s stock worth $2,661,000 after purchasing an additional 6,115 shares during the period. Vident Advisory LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at about $284,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco in the 4th quarter valued at about $73,242,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on COCO. Piper Sandler upped their target price on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target 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.