The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price fell 4.4% during mid-day trading on Thursday . The stock traded as low as $35.18 and last traded at $35.27. 192,973 shares were traded during trading, a decline of 68% from the average session volume of 594,160 shares. The stock had previously closed at $36.91.
Analyst Upgrades and Downgrades
COCO has been the topic of a number of research reports. Bank of America increased their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Craig Hallum raised their price objective 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and an average price target of $32.14.
Read Our Latest Stock Analysis on Vita Coco
Vita Coco Price Performance
The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. The stock's 50-day moving average is $35.17 and its 200-day moving average is $29.96.
Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. Analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.
Insider Buying and Selling
In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.07, for a total transaction of $175,350.00. Following the completion of the sale, the chief executive officer now directly owns 437,152 shares in the company, valued at $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 through this hyperlink. Also, COO Jonathan Burth sold 905 shares of Vita Coco stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,929 shares of company stock valued at $5,324,683. Insiders own 34.20% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its position in shares of Vita Coco by 9.5% in the second quarter. Arizona State Retirement System now owns 11,107 shares of the company's stock worth $309,000 after acquiring an additional 960 shares in the last quarter. US Bancorp DE raised its position in Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company's stock valued at $424,000 after purchasing an additional 1,178 shares during the period. Captrust Financial Advisors lifted its stake in shares of Vita Coco by 7.2% during the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company's stock worth $603,000 after purchasing an additional 1,433 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock worth $199,000 after buying an additional 1,434 shares during the period. Finally, nVerses Capital LLC boosted its position in shares of Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock worth $72,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.
About Vita Coco
(
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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