Vita Coco (NASDAQ:COCO) CFO Sells $116,080.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of Vita Coco stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $58.04, for a total value of $116,080.00. Following the completion of the sale, the chief financial officer directly owned 27,951 shares of the company’s stock, valued at approximately $1,622,276.04. This represents a 6.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 16th, Corey Baker sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.
• On Friday, March 13th, Corey Baker sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $58.86, for a total transaction of $117,720.00.

Vita Coco Trading Down 3.4%

NASDAQ:COCO traded down $1.91 on Thursday, hitting $53.98. 1,418,763 shares of the stock were exchanged, compared to its average volume of 975,348. The stock has a market cap of $3.08 billion, a PE ratio of 45.75, a PEG ratio of 1.83 and a beta of 0.37. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $61.39. The stock has a fifty day moving average of $55.23 and a 200-day moving average of $48.96.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same period in the previous year, the company earned $0.06 EPS. Vita Coco’s revenue was up .4% on a year-over-year basis. As a group, analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after purchasing an additional 1,174 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Vita Coco by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 33,243 shares of the company’s stock valued at $1,200,000 after purchasing an additional 1,872 shares during the period. Geode Capital Management LLC increased its holdings in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock valued at $36,759,000 after purchasing an additional 28,448 shares during the period. SG Americas Securities LLC acquired a new stake in Vita Coco in the second quarter worth about $372,000. Finally, Intech Investment Management LLC raised its position in shares of Vita Coco by 9.2% during the 2nd quarter. Intech Investment Management LLC now owns 22,756 shares of the company’s stock worth $821,000 after buying an additional 1,922 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday, February 21st. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley boosted their target price on shares of Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Key Vita Coco News

Here are the key news stories impacting Vita Coco this week:

• Positive Sentiment: Wall?street analyst support remains a tailwind: several firms have raised price targets (Evercore $70, Wells Fargo $63, Piper Sandler $59) and the coverage consensus is a “Moderate Buy,” which limits downside over time. Wall Street Analysts Think Vita Coco Is a Good Investment
• Neutral Sentiment: Product/brand activity continues (new Frosted Lemonade flavor) — positive for long?term revenue diversification but unlikely to move near?term results materially. Vita Coco Treats Frosted Lemonade
• Negative Sentiment: Significant insider selling: COO Jonathan Burth sold 60,000 shares (~50% of his position) for ~$3.52M at ~$58.65; CFO and other insiders also sold multiple blocks in mid?March — these large, closely timed disposals are pressuring the stock and signaling near?term liquidity/timing decisions by management. SEC filing for the COO sale is here. COO Form 4 (SEC)
• Negative Sentiment: Recent quarterly results showed an EPS miss (reported $0.09 vs. ~$0.13 consensus) despite modest revenue growth; that earnings miss combined with insider sales is the most direct explanation for the pullback. MarketBeat COCO coverage (earnings summary)

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.