The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth Sells 1,400 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 1,400 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $30.04, for a total value of $42,056.00. Following the completion of the sale, the chief operating officer now owns 121,900 shares of the company’s stock, valued at $3,661,876. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jonathan Burth also recently made the following trade(s):

• On Tuesday, October 22nd, Jonathan Burth sold 905 shares of Vita Coco stock. The shares were sold at an average price of $30.04, for a total value of $27,186.20.
• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The stock was sold at an average price of $30.00, for a total value 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 value of $67,342.44.

Vita Coco Stock Down 4.0 %

Shares of COCO stock opened at $29.56 on Thursday. The stock has a market cap of $1.68 billion, a P/E ratio of 31.78, a PEG ratio of 2.24 and a beta of 0.23. The company’s fifty day simple moving average is $27.66 and its two-hundred day simple moving average is $27.01. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $31.54.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $144.08 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that The Vita Coco Company, Inc. will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COCO. Harbor Capital Advisors Inc. raised its stake in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new stake in shares of Vita Coco during the 3rd quarter valued at about $1,010,000. US Bancorp DE raised its position in shares of Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock valued at $424,000 after buying an additional 1,178 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Vita Coco by 18.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,173 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in Vita Coco in the third quarter worth about $3,990,000. 88.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COCO has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price 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. Wells Fargo & Company raised their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Bank of America raised their price target on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $30.17.

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.