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 on Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total transaction of $302,133.00. Following the completion of the sale, the director directly owned 582,666 shares of the company’s stock, valued at approximately $45,139,135.02. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total transaction of $190,827.00.
• On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $56.92, for a total transaction of $221,988.00.

Vita Coco Stock Up 1.2%

COCO traded up $0.95 during midday trading on Thursday, hitting $78.83. The company had a trading volume of 855,344 shares, compared to its average volume of 1,266,664. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $79.70. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 57.54, a PEG ratio of 1.83 and a beta of 0.72. The stock’s 50 day moving average price is $57.34 and its 200 day moving average price is $54.11.

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

Analysts Set New Price Targets

COCO has been the subject of several research analyst reports. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Evercore reiterated 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 issued a Hold rating to the stock. According to MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $70.43.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP grew its holdings in shares of Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after buying an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Vita Coco by 12.1% during the third quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after buying an additional 224,305 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco during the third quarter valued at about $62,815,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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.