The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $1,340,486.18 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 45,302 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $29.59, for a total transaction of $1,340,486.18. Following the completion of the sale, the chairman now owns 750,379 shares in the company, valued at approximately $22,203,714.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vita Coco Stock Down 1.1 %

COCO traded down $0.30 during trading hours on Monday, reaching $26.49. 566,327 shares of the company’s stock traded hands, compared to its average volume of 502,201. The firm has a 50-day moving average price of $26.91 and a 200 day moving average price of $24.38. The Vita Coco Company, Inc. has a 52-week low of $7.39 and a 52-week high of $33.29. The firm has a market capitalization of $1.50 billion, a PE ratio of 51.94 and a beta of 0.07.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $139.65 million for the quarter, compared to analyst estimates of $131.40 million. Vita Coco had a net margin of 6.26% and a return on equity of 20.71%. Equities analysts predict that The Vita Coco Company, Inc. will post 0.79 EPS for the current fiscal year.

Institutional Trading of Vita Coco

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Vita Coco by 66.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock worth $38,000 after purchasing an additional 560 shares in the last quarter. Squarepoint Ops LLC raised its stake in Vita Coco by 6.0% in the first quarter. Squarepoint Ops LLC now owns 11,004 shares of the company’s stock valued at $216,000 after buying an additional 626 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Vita Coco by 5.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,403 shares of the company’s stock worth $158,000 after acquiring an additional 638 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Vita Coco by 37.2% during the second quarter. Royal Bank of Canada now owns 2,609 shares of the company’s stock worth $70,000 after acquiring an additional 707 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vita Coco by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,488 shares of the company’s stock valued at $245,000 after acquiring an additional 798 shares in the last quarter. 42.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COCO has been the subject of a number of recent research reports. Stephens assumed coverage on shares of Vita Coco in a research note on Thursday, June 22nd. They issued an “equal weight” rating and a $30.00 price objective for the company. Bank of America lowered Vita Coco from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $25.00 to $32.00 in a research report on Wednesday, August 2nd. Piper Sandler upped their price objective on Vita Coco from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, The Goldman Sachs Group boosted their target price on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.