Jonathan Burth Sells 2,244 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the transaction, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Vita Coco Stock Down 0.6 %

NASDAQ:COCO traded down $0.18 during trading hours on Tuesday, hitting $28.13. 307,373 shares of the company’s stock traded hands, compared to its average volume of 640,368. The firm has a market cap of $1.59 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.53 and a beta of 0.22. The business’s fifty day simple moving average is $26.20 and its two-hundred day simple moving average is $26.41. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $31.42.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $144.08 million. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. Vita Coco’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, analysts expect that The Vita Coco Company, Inc. will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

COCO has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America increased their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Finally, Jefferies Financial Group decreased their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $30.17.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in the stock. Syon Capital LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $113,931,000. Vanguard Group Inc. lifted its stake in Vita Coco by 10.8% during the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after purchasing an additional 230,991 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Vita Coco by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after purchasing an additional 156,033 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Vita Coco by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock valued at $21,203,000 after purchasing an additional 56,416 shares during the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in shares of Vita Coco during the 1st quarter valued at about $18,210,000. Institutional investors own 88.49% of the company’s stock.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.