The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by JW Asset Management LLC

JW Asset Management LLC lowered its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 295,621 shares of the company’s stock after selling 20,000 shares during the quarter. Vita Coco makes up approximately 3.8% of JW Asset Management LLC’s holdings, making the stock its 4th biggest holding. JW Asset Management LLC owned approximately 0.52% of Vita Coco worth $8,369,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in COCO. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 230,991 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the period. Dimensional Fund Advisors LP increased its stake in Vita Coco by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after buying an additional 156,033 shares during the period. William Blair Investment Management LLC boosted its holdings in Vita Coco by 8.0% in the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock valued at $21,203,000 after purchasing an additional 56,416 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Vita Coco during the second quarter worth approximately $9,859,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research reports. Craig Hallum increased their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Vita Coco Price Performance

Vita Coco stock opened at $35.48 on Wednesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 35.84, a P/E/G ratio of 2.22 and a beta of 0.22. The stock has a fifty day moving average price of $30.08 and a two-hundred day moving average price of $27.97. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $36.41.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares of the company’s stock, valued at $16,220,404.20. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares of the company’s stock, valued at approximately $31,849,593.16. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,425 shares of company stock worth $1,494,523 in the last ninety days. Company insiders own 34.20% of the company’s stock.

Vita Coco Company 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, 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.