Vita Coco (NASDAQ:COCO) CFO Corey Baker Sells 5,000 Shares of Company Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. Following the completion of the transaction, the chief financial officer directly owned 24,951 shares of the company’s stock, valued at $1,621,815. This represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Baker also recently made the following trade(s):

• On Tuesday, November 3rd, Corey Baker sold 1,000 shares of Vita Coco stock. The stock was sold at an average price of $60.00, for a total transaction of $60,000.00.

Vita Coco Price Performance

NASDAQ:COCO opened at $63.63 on Friday. The firm’s 50 day simple moving average is $57.32 and its 200 day simple moving average is $61.78. Vita Coco Company, Inc. has a one year low of $40.62 and a one year high of $85.83. The company has a market cap of $3.63 billion, a PE ratio of 31.97, a P/E/G ratio of 1.68 and a beta of 0.76.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $243.83 million during the quarter, compared to analysts’ expectations of $230.10 million. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. The company’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. Equities research analysts expect that Vita Coco Company, Inc. will post 2.06 EPS for the current year.

Analysts Set New Price Targets

COCO has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Vita Coco from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Evercore reaffirmed an “outperform” rating on shares of Vita Coco in a report on Friday, October 23rd. William Blair reiterated a “market perform” rating on shares of Vita Coco in a research report on Thursday, October 22nd. Finally, Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $74.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COCO. Fortitude Family Office LLC increased its stake in shares of Vita Coco by 611.4% in the 3rd quarter. Fortitude Family Office LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 538 shares in the last quarter. Signature Equity Partners LLC bought a new position in Vita Coco during the third quarter worth $42,000. IFP Advisors Inc boosted its stake in Vita Coco by 210.4% during the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $46,000 after acquiring an additional 467 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after acquiring an additional 958 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Vita Coco in the first quarter worth $86,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.