Jane Cecil Morreau Sells 15,000 Shares of Vita Coco (NASDAQ:COCO) Stock

by · The Markets Daily

Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) Director Jane Cecil Morreau sold 15,000 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.91, for a total transaction of $808,650.00. Following the sale, the director directly owned 17,179 shares of the company’s stock, valued at $926,119.89. This represents a 46.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vita Coco Stock Up 3.0%

COCO traded up $1.62 during trading on Tuesday, hitting $55.24. The company had a trading volume of 1,062,584 shares, compared to its average volume of 950,636. The company has a market capitalization of $3.15 billion, a PE ratio of 46.81, a PEG ratio of 1.72 and a beta of 0.38. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $59.88. The firm’s 50-day moving average price is $54.29 and its 200 day moving average price is $46.46.

Vita Coco (NASDAQ:COCO – Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Sell-side analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COCO. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $48.00 to $54.00 in a report on Monday, November 17th. The Goldman Sachs Group boosted their price target on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Jefferies Financial Group raised their price objective on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Piper Sandler lifted their target price on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, Wells Fargo & Company increased their price target on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Get Our Latest Research Report on COCO

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COCO. Vanguard Group Inc. raised its holdings in shares of Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after purchasing an additional 237,510 shares during the period. Wasatch Advisors LP raised its stake in Vita Coco by 3.3% in the third quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock valued at $115,917,000 after buying an additional 86,541 shares during the period. Wellington Management Group LLP lifted its position in shares of Vita Coco by 22.1% in the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after buying an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Vita Coco by 12.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after acquiring an additional 224,305 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $62,815,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

(Get Free Report)

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.

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