The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior Sells 3,888 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 3,888 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $37.01, for a total value of $143,894.88. Following the sale, the chief marketing officer now directly owns 131,834 shares of the company’s stock, valued at $4,879,176.34. This represents a 2.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Vita Coco Price Performance

Shares of COCO opened at $36.34 on Tuesday. The firm has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $28.25. The company has a market cap of $2.06 billion, a P/E ratio of 36.48, a P/E/G ratio of 2.36 and a beta of 0.22. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $37.05.

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

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP lifted its stake in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after purchasing an additional 1,799,168 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after acquiring an additional 230,991 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after acquiring an additional 101,823 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares in the last quarter. Finally, State Street Corp grew its position in Vita Coco by 4.7% during the 3rd quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after acquiring an additional 39,431 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Craig Hallum boosted their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.