Vita Coco (NASDAQ:COCO) Trading Down 4.4% – Should You Sell?

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) traded down 4.4% during trading on Thursday . The stock traded as low as $35.18 and last traded at $35.27. 192,973 shares traded hands during trading, a decline of 68% from the average session volume of 594,160 shares. The stock had previously closed at $36.91.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on COCO shares. Bank of America boosted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Vita Coco Price Performance

The firm has a market cap of $1.95 billion, a P/E ratio of 34.81, a PEG ratio of 2.42 and a beta of 0.31. The company’s 50 day moving average is $35.27 and its two-hundred day moving average is $29.99.

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

Insider Activity

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares of the company’s stock, valued at approximately $16,220,404.20. This trade represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Burth sold 1,400 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $30.04, for a total transaction of $42,056.00. Following the completion of the sale, the chief operating officer now owns 121,900 shares in the company, valued at $3,661,876. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,929 shares of company stock worth $5,324,683. 34.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Vita Coco by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 151,840 shares of the company’s stock worth $4,229,000 after purchasing an additional 17,121 shares during the last quarter. Principal Financial Group Inc. increased its position in Vita Coco by 20.1% in the 2nd quarter. Principal Financial Group Inc. now owns 37,232 shares of the company’s stock valued at $1,037,000 after acquiring an additional 6,228 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Vita Coco by 16.1% in the second quarter. Rhumbline Advisers now owns 54,654 shares of the company’s stock worth $1,522,000 after acquiring an additional 7,583 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Vita Coco by 1,310.1% in the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after acquiring an additional 403,192 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after purchasing an additional 960 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.