The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $64,178.10 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares in the company, valued at approximately $16,040,717.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Michael Kirban also recently made the following trade(s):

• On Tuesday, March 19th, Michael Kirban sold 19,198 shares of Vita Coco stock. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98.

Vita Coco Stock Down 0.3 %

Shares of NASDAQ COCO opened at $23.76 on Thursday. The Vita Coco Company, Inc. has a twelve month low of $19.06 and a twelve month high of $33.29. The business has a fifty day simple moving average of $22.72 and a two-hundred day simple moving average of $25.47. The firm has a market cap of $1.35 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.19.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $106.10 million during the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, research analysts expect that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COCO shares. William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. The Goldman Sachs Group dropped their target price on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Piper Sandler increased their price target on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Finally, Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $29.71.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of COCO. PNC Financial Services Group Inc. raised its stake in Vita Coco by 1,289.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Vita Coco by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 2,144,430 shares of the company’s stock worth $55,005,000 after purchasing an additional 189,355 shares during the last quarter. Syon Capital LLC bought a new stake in Vita Coco during the fourth quarter valued at about $113,931,000. Virtu Financial LLC purchased a new position in Vita Coco in the fourth quarter valued at about $352,000. Finally, Barclays PLC grew its stake in Vita Coco by 287.9% in the fourth quarter. Barclays PLC now owns 74,709 shares of the company’s stock valued at $1,916,000 after purchasing an additional 55,451 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.