Vita Coco (NASDAQ:COCO) Director Sells $323,388.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 20th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $77.47, for a total transaction of $302,133.00.
• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $48.93, for a total transaction of $190,827.00.

Vita Coco Stock Performance

Shares of COCO opened at $83.90 on Friday. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 61.24, a PEG ratio of 2.01 and a beta of 0.74. The firm has a 50 day moving average price of $68.43 and a 200-day moving average price of $59.02.

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 company had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Wells Fargo & Company boosted their price objective on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $70.00 price objective on shares of Vita Coco in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Woods Capital Investors LLC purchased a new stake in shares of Vita Coco during the first quarter worth about $219,000. Bank of America Corp DE grew its stake in shares of Vita Coco by 47.2% in the first quarter. Bank of America Corp DE now owns 401,469 shares of the company’s stock worth $19,234,000 after purchasing an additional 128,709 shares during the last quarter. California State Teachers Retirement System increased its holdings in Vita Coco by 25.2% during the 1st quarter. California State Teachers Retirement System now owns 57,284 shares of the company’s stock valued at $2,744,000 after purchasing an additional 11,515 shares during the period. Maverick Capital Ltd. raised its position in Vita Coco by 31.4% during the 1st quarter. Maverick Capital Ltd. now owns 76,933 shares of the company’s stock valued at $3,686,000 after purchasing an additional 18,372 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Vita Coco by 397.5% during the 1st quarter. Quantinno Capital Management LP now owns 61,682 shares of the company’s stock valued at $2,955,000 after purchasing an additional 49,283 shares during the last quarter. 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.