Vita Coco (NASDAQ:COCO) Director Kenneth Sadowsky Sells 3,900 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total value of $302,133.00. Following the completion of the sale, the director owned 582,666 shares of the company’s stock, valued at approximately $45,139,135.02. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Wednesday, March 18th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $56.92, for a total value of $221,988.00.

Vita Coco Price Performance

Shares of COCO opened at $78.83 on Friday. The stock has a 50-day moving average of $57.82 and a 200-day moving average of $54.38. The company has a market cap of $4.50 billion, a PE ratio of 57.54, a P/E/G ratio of 1.87 and a beta of 0.72. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $79.70.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating 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%.The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. Analysts expect that Vita Coco Company, Inc. will post 1.76 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 COCO. Caitong International Asset Management Co. Ltd boosted its stake in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP boosted its stake in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COCO. Jefferies Financial Group raised their target price on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Evercore reiterated an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Morgan Stanley set a $65.00 price target on Vita Coco in a research note on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $70.43.

About Vita Coco

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.