Millennium Management LLC Sells 552,008 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Millennium Management LLC cut its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 54.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,055 shares of the company’s stock after selling 552,008 shares during the quarter. Millennium Management LLC owned about 0.80% of Vita Coco worth $12,645,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Syon Capital LLC bought a new stake in Vita Coco in the fourth quarter worth $113,931,000. AMI Asset Management Corp increased its stake in Vita Coco by 43.2% in the first quarter. AMI Asset Management Corp now owns 174,502 shares of the company’s stock worth $4,263,000 after purchasing an additional 52,646 shares during the period. GSA Capital Partners LLP purchased a new stake in Vita Coco in the first quarter worth $1,028,000. American Century Companies Inc. increased its stake in Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after purchasing an additional 23,761 shares during the period. Finally, Wasatch Advisors LP increased its stake in Vita Coco by 41.8% in the first quarter. Wasatch Advisors LP now owns 398,057 shares of the company’s stock worth $9,725,000 after purchasing an additional 117,346 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Down 2.7 %

Shares of Vita Coco stock opened at $27.78 on Tuesday. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $31.42. The stock’s fifty day moving average price is $26.57 and its 200-day moving average price is $26.53. The firm has a market cap of $1.57 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.53 and a beta of 0.23.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COCO shares. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Bank of America increased their target price on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group reduced their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.17.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Es Charles Van sold 4,372 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total value of $131,160.00. Following the transaction, the insider now owns 97,668 shares of the company’s stock, valued at approximately $2,930,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.