Martin F. Roper Sells 5,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.07, for a total transaction of $175,350.00. Following the sale, the chief executive officer now owns 437,152 shares of the company’s stock, valued at approximately $15,330,920.64. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Vita Coco Stock Performance

NASDAQ COCO opened at $36.66 on Friday. The business’s 50 day moving average price is $30.48 and its 200-day moving average price is $28.09. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.05. The company has a market cap of $2.08 billion, a P/E ratio of 37.17, a P/E/G ratio of 2.32 and a beta of 0.22.

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

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in COCO. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after buying an additional 1,799,168 shares during the period. Woodson Capital Management LP bought a new position in shares of Vita Coco in the 3rd quarter worth $19,224,000. Victory Capital Management Inc. raised its position in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after acquiring an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Vita Coco in the 2nd quarter worth $9,859,000. Finally, Vanguard Group Inc. increased its position in Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.