The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth Sells 905 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the sale, the chief operating officer now owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Jonathan Burth also recently made the following trade(s):

• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The shares were sold at an average price of $30.00, for a total value of $12,000.00.
• On Monday, September 30th, Jonathan Burth sold 2,244 shares of Vita Coco stock. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44.

Vita Coco Stock Up 0.5 %

Shares of NASDAQ COCO traded up $0.16 during trading hours on Thursday, reaching $29.30. 231,501 shares of the stock traded hands, compared to its average volume of 612,460. The company has a market capitalization of $1.66 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $31.42. The company’s 50-day simple moving average is $27.31 and its two-hundred day simple moving average is $26.88.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The company had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $144.08 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Finally, Bank of America raised their target price on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.17.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of COCO. nVerses Capital LLC lifted its position in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its stake in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of 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 during the period. Ameritas Investment Partners Inc. raised its holdings in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares during the last quarter. Finally, Comerica Bank boosted its position in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the period. 88.49% of the stock is currently owned by institutional investors.

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.