Vita Coco (NASDAQ:COCO) CEO Martin Roper Sells 25,000 Shares
by Doug Wharley · The Cerbat GemVita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) CEO Martin Roper sold 25,000 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $50.95, for a total transaction of $1,273,750.00. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares in the company, valued at $15,207,759.80. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Vita Coco Stock Down 0.7%
Shares of COCO traded down $0.33 during trading hours on Thursday, hitting $48.83. The company had a trading volume of 1,115,422 shares, compared to its average volume of 1,171,544. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 1.52 and a beta of 0.47. The business has a fifty day moving average of $54.20 and a 200-day moving average of $50.20. Vita Coco Company, Inc. has a 12 month low of $29.74 and a 12 month high of $61.39.
Vita Coco (NASDAQ:COCO – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. Vita Coco’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, equities analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.
Hedge Funds Weigh In On Vita Coco
Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after acquiring an additional 501 shares during the period. Clearstead Advisors LLC increased its position in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares during the period. Quarry LP increased its position in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after acquiring an additional 758 shares during the period. GAMMA Investing LLC increased its position in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares during the period. Finally, Mather Group LLC. bought a new position in Vita Coco in the 3rd quarter valued at about $54,000. 88.49% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Evercore reissued an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a research report on Thursday, March 12th. Wall Street Zen lowered shares of Vita Coco from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Morgan Stanley raised their price target on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company lowered their price target on shares of Vita Coco from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.43.
Check Out Our Latest Stock Analysis on Vita Coco
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.