Vita Coco (NASDAQ:COCO) COO Sells $1,400,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 20,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $1,400,000.00. Following the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,053,700. This represents a 25.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Tuesday, May 12th, Jonathan Burth sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $75.00, for a total transaction of $2,250,000.00.
• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $67.50, for a total transaction 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 transaction 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 transaction of $3,519,000.00.

Vita Coco Price Performance

NASDAQ:COCO opened at $74.77 on Thursday. The stock has a market cap of $4.27 billion, a P/E ratio of 54.58, 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 $76.35. The company has a fifty day moving average price of $54.91 and a 200 day moving average price of $52.86.

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

Analyst Ratings Changes

Several equities analysts recently commented on COCO shares. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group raised their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. Westfield Capital Management Co. LP acquired a new stake in shares of Vita Coco during the 3rd quarter worth about $45,135,000. New York State Common Retirement Fund increased its position in shares of Vita Coco by 10.3% during the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock worth $21,703,000 after purchasing an additional 47,632 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Vita Coco during the 3rd quarter worth about $2,230,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vita Coco during the 3rd quarter worth about $62,815,000. Finally, Night Squared LP acquired a new stake in shares of Vita Coco during the 3rd quarter worth about $5,193,000. 88.49% of the stock is owned by institutional investors.

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.