Michael Kirban Sells 14,898 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 14,898 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $44.21, for a total transaction of $658,640.58. Following the completion of the transaction, the chairman owned 1,484,151 shares of the company’s stock, valued at approximately $65,614,315.71. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, October 29th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $45.70, for a total transaction of $1,371,000.00.
• On Monday, September 22nd, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $41.53, for a total transaction of $830,600.00.
• On Wednesday, September 17th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $41.72, for a total transaction of $1,251,600.00.
• On Thursday, September 11th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $39.05, for a total transaction of $781,000.00.
• On Tuesday, September 9th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00.

Vita Coco Price Performance

COCO opened at $41.18 on Friday. The firm has a fifty day moving average price of $39.91 and a 200 day moving average price of $36.71. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $48.67. The stock has a market cap of $2.35 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.65 and a beta of 0.40.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The business’s revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. Equities analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of Vita Coco during the third quarter worth $801,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco during the third quarter worth $62,815,000. State of Alaska Department of Revenue purchased a new stake in shares of Vita Coco during the third quarter worth $93,000. SG Americas Securities LLC grew its holdings in shares of Vita Coco by 19.5% during the third quarter. SG Americas Securities LLC now owns 12,313 shares of the company’s stock worth $523,000 after buying an additional 2,006 shares in the last quarter. Finally, Moran Wealth Management LLC grew its holdings in shares of Vita Coco by 6.1% during the third quarter. Moran Wealth Management LLC now owns 20,559 shares of the company’s stock worth $873,000 after buying an additional 1,183 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COCO. Zacks Research lowered shares of Vita Coco from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Morgan Stanley boosted their price target on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. The Goldman Sachs Group boosted their price target on shares of Vita Coco from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a report on Wednesday, October 8th. Finally, Needham & Company LLC began coverage on shares of Vita Coco in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.29.

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.