Corey Baker, the Chief Financial Officer of Vita Coco Company, Inc. (NASDAQ:COCO), has recently sold 2,000 shares of the company's common stock. The transaction, which took place on December 11, involved shares sold at a price of $37.28 each, amounting to a total value of $74,560. Following this sale, Baker holds 44,346 shares of the company's stock. The sale occurred as COCO trades near its 52-week high of $37.88, with the stock delivering an impressive 43% return year-to-date. According to InvestingPro analysis, the company maintains a GREAT financial health score, supported by strong profitability metrics.
In addition to the sale, Baker holds various non-qualified stock options with exercise prices ranging from $16.91 to $27.59, with expiration dates extending into 2034. These options cover a total of 47,979 shares, with vesting schedules detailed in the company's filings. With a market capitalization of $2.08 billion, COCO shows promising momentum. Discover more insights and 12 additional ProTips with a subscription to InvestingPro, including detailed analysis of the company's valuation metrics and growth potential.
In other recent news, The Vita Coco Co. Inc. has demonstrated noteworthy developments in its financial performance. The company reported mixed outcomes in its Q3 2024 earnings call, with a 4% decrease in net sales to $133 million, primarily due to a 37% drop in private label sales. However, the company's resilience was evident with an 8% growth in the U.S. and a 19% increase in the UK for the Vita Coco Coconut Water brand. Furthermore, Vita Coco's net income for the quarter rose to $19 million, or $0.32 per diluted share, compared to $15 million, or $0.26 per diluted share, in the same period last year.
BofA Securities has maintained a Neutral rating on Vita Coco, with the target raised following the company's resolution of recent inventory issues. The firm anticipates an increase in sales for Vita Coco Coconut Water in the Americas by 13.5% in 2025, slightly above the consensus estimate of 12.5%. Despite concerns about high ocean freight costs impacting Q4 margins, the company expects these costs to decline in the coming year. As part of the recent developments, Vita Coco plans to increase production capacity for 2025 and 2026, aiming to operate at 80%-85% capacity.
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