Dark Forest Capital Management LP Lowers Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Dark Forest Capital Management LP trimmed its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 68.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,108 shares of the company’s stock after selling 50,941 shares during the period. Dark Forest Capital Management LP’s holdings in Vita Coco were worth $644,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Vita Coco by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,598 shares of the company’s stock valued at $6,069,000 after buying an additional 5,406 shares during the period. Axiom Investors LLC DE lifted its stake in Vita Coco by 55.7% in the fourth quarter. Axiom Investors LLC DE now owns 124,950 shares of the company’s stock worth $3,205,000 after acquiring an additional 44,690 shares during the period. Wasatch Advisors LP lifted its position in shares of Vita Coco by 8.5% in the 4th quarter. Wasatch Advisors LP now owns 280,711 shares of the company’s stock worth $7,200,000 after purchasing an additional 22,030 shares during the period. Virtu Financial LLC purchased a new stake in Vita Coco in the fourth quarter worth about $352,000. Finally, Syon Capital LLC purchased a new position in shares of Vita Coco in the 4th quarter valued at approximately $113,931,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Up 1.0 %

NASDAQ COCO opened at $29.13 on Friday. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $31.42. The stock has a market cap of $1.65 billion, a PE ratio of 31.66, a P/E/G ratio of 2.53 and a beta of 0.22. The stock’s 50 day moving average is $26.09 and its 200 day moving average is $26.35.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $144.08 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that The Vita Coco Company, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COCO. Bank of America lifted their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group lowered their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.17.

Insiders Place Their Bets

In other news, insider Es Charles Van sold 4,372 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the transaction, the insider now owns 97,668 shares in the company, valued at $2,930,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 34.20% of the company’s stock.

About Vita Coco

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.