Kenneth Sadowsky Sells 3,900 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the transaction, the director directly owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 52 week low of $31.79 and a 52 week high of $85.83. The stock has a market capitalization 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 stock has a fifty day moving average of $68.43 and a 200-day moving average of $59.02.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share 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 the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.Vita Coco’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities analysts forecast that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after acquiring an additional 1,344 shares during the last quarter. Marshall Wace LLP acquired a new stake in Vita Coco during the 2nd quarter worth about $9,627,000. Cerity Partners LLC acquired a new stake in Vita Coco during the 2nd quarter worth about $645,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Vita Coco in the 2nd quarter worth about $2,990,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COCO. Piper Sandler restated an “overweight” rating and set a $70.00 price target on shares of Vita Coco in a report on Wednesday, April 29th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Finally, Evercore reaffirmed an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

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.