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

by · The Markets Daily

The Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now directly owns 124,605 shares in the company, valued at $3,739,396.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vita Coco Stock Up 0.6 %

COCO opened at $28.31 on Thursday. The firm’s 50-day moving average price is $26.25 and its 200-day moving average price is $26.43. The company has a market cap of $1.60 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.22. 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 – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. On average, research analysts anticipate that The Vita Coco Company, Inc. will post 0.95 EPS for the current fiscal year.

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in Vita Coco in the first quarter valued at approximately $63,000. nVerses Capital LLC boosted its holdings in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares during the last quarter. CWM LLC increased its stake in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after purchasing an additional 3,210 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Analysis on COCO

Vita Coco Company Profile

(Get Free Report)

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.

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