Vita Coco (NASDAQ:COCO) CFO Corey Baker Sells 1,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 1,000 shares of Vita Coco stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer owned 24,951 shares of the company’s stock, valued at approximately $1,497,060. This trade represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Baker also recently made the following trade(s):

• On Wednesday, November 4th, Corey Baker sold 5,000 shares of Vita Coco stock. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $63.63 on Friday. Vita Coco Company, Inc. has a 1 year low of $40.62 and a 1 year high of $85.83. The firm’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $61.78. The firm has a market cap of $3.63 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $243.83 million during the quarter, compared to the consensus estimate of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share. On average, equities analysts predict that Vita Coco Company, Inc. will post 2.06 earnings per share for the current year.

Institutional Trading of Vita Coco

Hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC increased its stake in shares of Vita Coco by 611.4% during the third quarter. Fortitude Family Office LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 538 shares during the period. IFP Advisors Inc raised its position in Vita Coco by 210.4% in the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $46,000 after acquiring an additional 467 shares in the last quarter. Signature Equity Partners LLC bought a new stake in Vita Coco in the third quarter worth about $42,000. Rockefeller Capital Management L.P. raised its position in Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after acquiring an additional 958 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in Vita Coco by 166,200.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,663 shares of the company’s stock valued at $110,000 after acquiring an additional 1,662 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Oppenheimer initiated coverage on Vita Coco in a research note on Thursday, October 1st. They issued an “outperform” rating and a $70.00 target price for the company. Weiss Ratings lowered Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Evercore reaffirmed an “outperform” rating on shares of Vita Coco in a report on Friday, October 23rd. Finally, Wells Fargo & Company cut their price target on Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $74.12.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.