The Vita Coco Company, Inc. (NASDAQ:COCO) Stock Holdings Decreased by RK Capital Management LLC

RK Capital Management LLC lessened its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 21.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 631,800 shares of the company’s stock after selling 174,700 shares during the period. Vita Coco accounts for approximately 3.6% of RK Capital Management LLC’s holdings, making the stock its 5th biggest position. RK Capital Management LLC owned about 1.12% of Vita Coco worth $16,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Vita Coco in the second quarter worth about $56,000. Legal & General Group Plc raised its holdings in shares of Vita Coco by 154.1% during the 2nd quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after acquiring an additional 1,824 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Vita Coco during the 1st quarter valued at approximately $33,000. State of Wyoming purchased a new position in shares of Vita Coco in the fourth quarter valued at $71,000. Finally, JPMorgan Chase & Co. increased its position in Vita Coco by 25.2% in the first quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after purchasing an additional 1,062 shares during the last quarter. 42.33% of the stock is owned by institutional investors.

Vita Coco Trading Down 0.2 %

Shares of COCO traded down $0.05 during midday trading on Monday, hitting $29.05. 219,679 shares of the company’s stock traded hands, compared to its average volume of 553,958. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 45.73 and a beta of 0.15. The Vita Coco Company, Inc. has a 1 year low of $10.16 and a 1 year high of $33.29. The firm’s fifty day moving average is $27.06 and its 200-day moving average is $26.60.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Vita Coco had a net margin of 7.73% and a return on equity of 23.93%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $139.05 million. During the same quarter in the prior year, the business posted $0.13 EPS. Vita Coco’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Vita Coco Company, Inc. will post 0.79 EPS for the current year.

Insider Transactions at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 45,302 shares of Vita Coco stock in a transaction dated 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 transaction, the chairman now owns 750,379 shares in the company, valued at approximately $22,203,714.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Michael Kirban sold 45,302 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $29.59, for a total value of $1,340,486.18. Following the completion of the transaction, the chairman now directly owns 750,379 shares in the company, valued at approximately $22,203,714.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric Melloul sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $27.61, for a total value of $110,440,000.00. Following the sale, the director now owns 10,858,120 shares in the company, valued at $299,792,693.20. The disclosure for this sale can be found here. Insiders sold a total of 4,283,446 shares of company stock worth $118,714,589 over the last three months. 51.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COCO shares. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Bank of America dropped their price objective on shares of Vita Coco from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. Piper Sandler increased their target price on shares of Vita Coco from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. TheStreet raised shares of Vita Coco from a “c” rating to a “b-” rating in a research note on Friday, October 20th. Finally, Jefferies Financial Group began coverage on shares of Vita Coco in a research report on Monday, November 13th. They issued a “buy” rating and a $33.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.50.

Vita Coco Profile

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.