Vita Coco (NASDAQ:COCO) Chairman Michael Kirban Sells 30,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 30,000 shares of Vita Coco stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $45.70, for a total transaction of $1,371,000.00. Following the completion of the sale, the chairman directly owned 1,499,049 shares of the company’s stock, valued at approximately $68,506,539.30. The trade was a 1.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Michael Kirban also recently made the following trade(s):

• On Thursday, October 30th, Michael Kirban sold 14,898 shares of Vita Coco stock. The stock was sold at an average price of $44.21, for a total transaction of $658,640.58.
• On Monday, September 22nd, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $41.53, for a total value of $830,600.00.
• On Wednesday, September 17th, Michael Kirban sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $41.72, for a total value of $1,251,600.00.
• On Thursday, September 11th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $39.05, for a total value of $781,000.00.
• On Tuesday, September 9th, Michael Kirban sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $39.16, for a total value of $1,174,800.00.

Vita Coco Stock Down 3.4%

Shares of Vita Coco stock opened at $41.18 on Friday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $48.67. The stock has a 50 day moving average price of $39.91 and a two-hundred day moving average price of $36.67. The stock has a market capitalization of $2.35 billion, a P/E ratio of 35.81, a PEG ratio of 2.75 and a beta of 0.40.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. Vita Coco’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on COCO shares. Bank of America upped their price target on shares of Vita Coco from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on Vita Coco from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.29.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Vita Coco by 398.5% in the 1st quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock valued at $2,999,000 after acquiring an additional 78,229 shares in the last quarter. Northern Trust Corp increased its position in shares of Vita Coco by 3.4% during the first quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock valued at $13,026,000 after purchasing an additional 13,814 shares during the period. Wellington Management Group LLP increased its position in shares of Vita Coco by 102.2% during the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after purchasing an additional 258,521 shares during the period. Nuveen LLC acquired a new position in shares of Vita Coco in the first quarter valued at $3,041,000. Finally, PDT Partners LLC lifted its position in Vita Coco by 133.1% in the first quarter. PDT Partners LLC now owns 64,108 shares of the company’s stock worth $1,965,000 after purchasing an additional 36,610 shares during the period. Institutional investors own 88.49% of the company’s stock.

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.