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In a recent transaction, Liran Ira, a director at Vita Coco Company, Inc. (NASDAQ:COCO), a company with a market capitalization of $2.27 billion that has delivered an impressive 85.7% return over the past year, sold shares worth $68,949. According to InvestingPro data, the company maintains a "GREAT" financial health score. The sale, executed on February 19, involved 1,723 shares of common stock at a weighted average price of $40.017 per share, near the stock’s 52-week high of $40.32. These transactions were part of a pre-arranged trading plan under Rule 10b5-1. Following the sale, Ira holds 812,579 shares indirectly through the Ira Liran 2012 Family Trust and 635,055 shares directly. With the company’s next earnings report scheduled for February 26, investors can access comprehensive analysis and 12+ additional key insights through InvestingPro’s detailed research reports.
In other recent news, The Vita Coco Co. Inc has seen its price target adjusted by BofA Securities to $38.00, up from a previous $30.00, while maintaining a Neutral rating. This adjustment comes after the company addressed inventory issues that had impacted sales. The Vita Coco Co. reported a modest year-to-date sales increase of 3.2% in the Americas, which is lower than its historical growth rates. The company had faced challenges due to ocean freight availability and transit times, but these issues have now been resolved, as indicated in their third-quarter earnings call and supported by Nielsen data.
Retail sales for Vita Coco Coconut Water saw a significant increase of 17.9% in the four weeks leading up to November 16, 2024. BofA Securities expects that with the inventory situation resolved, the company can focus on advertising and promotional activities to boost sales further. Looking forward to 2025, BofA forecasts a 13.5% sales increase for Vita Coco Coconut Water in the Americas, slightly above the consensus estimate of 12.5%. The firm also suggests that the company will benefit from more favorable year-over-year comparisons in the future.
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