Vita Coco (NASDAQ:COCO) CEO Sells $1,250,000.00 in Stock
by Amy Steele · The Cerbat GemVita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) CEO Martin Roper sold 25,000 shares of Vita Coco stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief executive officer owned 298,484 shares in the company, valued at $14,924,200. This trade represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Martin Roper also recently made the following trade(s):
- On Tuesday, April 14th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
- On Monday, April 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The shares were sold at an average price of $50.55, for a total value of $225,250.80.
- On Friday, April 10th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.11, for a total value of $1,252,750.00.
- On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.95, for a total value of $1,273,750.00.
Vita Coco Stock Down 0.0%
Shares of Vita Coco stock traded down $0.01 during trading on Friday, reaching $48.32. The company’s stock had a trading volume of 1,072,347 shares, compared to its average volume of 1,163,663. Vita Coco Company, Inc. has a 12-month low of $29.74 and a 12-month high of $61.39. The company has a market capitalization of $2.76 billion, a P/E ratio of 40.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.47. The business has a 50 day moving average price of $53.46 and a 200-day moving average price of $50.51.
Vita Coco (NASDAQ:COCO – Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $117.80 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Research analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. Evercore restated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Wall Street Zen downgraded Vita Coco from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Morgan Stanley boosted their target price on 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 decreased their target price on Vita Coco from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.43.
Check Out Our Latest Stock Report on COCO
Hedge Funds Weigh In On Vita Coco
Institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its holdings in shares of Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock worth $21,703,000 after acquiring an additional 47,632 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco in the third quarter worth $45,135,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Vita Coco in the third quarter worth $2,230,000. Harbor Capital Advisors Inc. acquired a new position in shares of Vita Coco in the third quarter worth $821,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco in the third quarter worth $62,815,000. 88.49% of the stock is owned by institutional investors and hedge funds.
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.