Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior Sells 10,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 10,000 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $35.12, for a total transaction of $351,200.00. Following the completion of the sale, the chief marketing officer now owns 134,188 shares of the company’s stock, valued at $4,712,682.56. This trade represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Vita Coco Price Performance

Shares of COCO opened at $35.12 on Friday. Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32. The stock has a market cap of $1.99 billion, a PE ratio of 34.77, a P/E/G ratio of 1.86 and a beta of 0.39. The firm has a 50-day simple moving average of $33.89 and a two-hundred day simple moving average of $34.68.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.32% and a return on equity of 25.08%. The business had revenue of $130.92 million during the quarter, compared to analysts’ expectations of $125.64 million. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP increased its position in shares of Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock valued at $104,414,000 after acquiring an additional 427,871 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Vita Coco by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock valued at $80,987,000 after acquiring an additional 53,172 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Vita Coco by 14.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company’s stock valued at $55,460,000 after acquiring an additional 185,692 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Vita Coco by 15.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company’s stock valued at $52,486,000 after acquiring an additional 193,420 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company’s stock valued at $41,713,000 after purchasing an additional 64,011 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COCO has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Finally, Evercore ISI raised their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $35.88.

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.