Vita Coco (NASDAQ:COCO) CFO Corey Baker Sells 2,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.86, for a total transaction of $117,720.00. Following the completion of the sale, the chief financial officer owned 33,951 shares of the company’s stock, valued at $1,998,355.86. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, March 16th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $58.14 on Wednesday. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $61.39. The business has a 50-day moving average of $55.20 and a two-hundred day moving average of $48.91. The stock has a market capitalization of $3.32 billion, a P/E ratio of 49.27, a P/E/G ratio of 1.91 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue was up .4% on a year-over-year basis. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COCO. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Wells Fargo & Company raised their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley lifted their target price on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Evercore reissued an “outperform” rating and set a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.38.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares during the last quarter. CWM LLC raised its stake in Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the last quarter. Mariner LLC boosted its holdings in Vita Coco by 2.8% in the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Vita Coco by 0.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after purchasing an additional 298 shares during the period. Finally, Schroder Investment Management Group grew its position in Vita Coco by 3.2% in the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after purchasing an additional 376 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

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.