The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker Sells 2,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of Vita Coco stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vita Coco Stock Performance

Shares of COCO opened at $36.72 on Friday. The firm has a market cap of $2.08 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $37.88. The firm’s 50-day simple moving average is $32.96 and its 200 day simple moving average is $29.15.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on COCO. Craig Hallum increased their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of COCO. Lord Abbett & CO. LLC increased its position in Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after acquiring an additional 80,128 shares during the period. TT International Asset Management LTD grew its position in shares of Vita Coco by 1,643.7% during the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after purchasing an additional 170,797 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after buying an additional 101,823 shares in the last quarter. Barclays PLC increased its stake in Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the period. Finally, XTX Topco Ltd bought a new position in Vita Coco during the 3rd quarter worth $348,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

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, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.