Vita Coco (NASDAQ:COCO) Director Sells $323,388.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, May 20th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $77.47, for a total value of $302,133.00.
• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total value of $190,827.00.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.26 during midday trading on Thursday, reaching $83.90. 1,288,812 shares of the company’s stock traded hands, compared to its average volume of 1,215,952. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 61.24, a P/E/G ratio of 2.01 and a beta of 0.74. The stock has a 50 day moving average of $67.04 and a 200 day moving average of $58.62.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The company had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.Vita Coco’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. Sell-side analysts predict that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP grew its position in shares of Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after acquiring an additional 1,637,437 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Vita Coco in the 3rd quarter worth $62,815,000. Wellington Management Group LLP lifted its position in Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco during the fourth quarter valued at $73,242,000. Finally, Westfield Capital Management Co. LP bought a new stake in Vita Coco during the third quarter valued at about $45,135,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Evercore reissued an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a report on Thursday, March 12th. Finally, Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.43.

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.