The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,041,662 shares of the company’s stock after buying an additional 101,823 shares during the quarter. Geode Capital Management LLC owned approximately 1.84% of Vita Coco worth $29,494,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COCO. Wasatch Advisors LP raised its position in shares of Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after acquiring an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP purchased a new position in Vita Coco in the third quarter valued at approximately $19,224,000. Victory Capital Management Inc. raised its holdings in Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Vita Coco during the 2nd quarter worth approximately $9,859,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after buying an additional 200,940 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Up 1.0 %

Shares of COCO stock opened at $36.34 on Friday. The stock’s 50-day moving average price is $34.32 and its 200 day moving average price is $29.67. The stock has a market capitalization of $2.06 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $37.88.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Craig Hallum lifted their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 14,836 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.61, for a total transaction of $557,981.96. Following the transaction, the chief operating officer now owns 105,417 shares of the company’s stock, valued at $3,964,733.37. This represents a 12.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares of the company’s stock, valued at approximately $16,220,404.20. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,173 shares of company stock worth $5,392,026. 34.20% of the stock is owned by insiders.

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.