The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $979,423.04 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 27,176 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the sale, the director now owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Vita Coco Stock Performance

Shares of COCO stock opened at $33.85 on Friday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.30 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 $36.41. The firm’s 50-day simple moving average is $29.54 and its two-hundred day simple moving average is $27.77.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. During the same quarter in the previous year, the firm posted $0.26 EPS. Vita Coco’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Vita Coco by 9.5% during the 2nd quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock valued at $309,000 after buying an additional 960 shares in the last quarter. US Bancorp DE boosted its holdings in Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after buying an additional 1,178 shares during the period. Finally, Captrust Financial Advisors grew its stake in Vita Coco by 7.2% in the 3rd quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock valued at $603,000 after buying an additional 1,433 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COCO shares. Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Vita Coco Company Profile

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.