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

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 905 shares of the firm’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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

Vita Coco Trading Up 0.5 %

Shares of NASDAQ:COCO opened at $29.30 on Friday. The company has a fifty day simple moving average of $27.38 and a 200 day simple moving average of $26.89. The firm has a market cap of $1.66 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $31.42.

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

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in 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 purchasing an additional 787 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Vita Coco by 32.3% in the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after purchasing an additional 919 shares during the period. Arizona State Retirement System boosted its holdings in Vita Coco by 9.5% in the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after purchasing an additional 960 shares during the period. nVerses Capital LLC boosted its holdings in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after acquiring an additional 3,210 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $28.00 in a report on Friday, July 12th. Bank of America lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.17.

About Vita Coco

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.