City Center Advisors LLC Sells 1,737 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

City Center Advisors LLC lowered its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,842 shares of the company’s stock after selling 1,737 shares during the quarter. City Center Advisors LLC’s holdings in Vita Coco were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Syon Capital LLC bought a new stake in shares of Vita Coco during the fourth quarter valued at approximately $113,931,000. Champlain Investment Partners LLC acquired a new stake in shares of Vita Coco in the 1st quarter valued at $18,210,000. Victory Capital Management Inc. raised its position in shares of Vita Coco by 1,310.1% during the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after acquiring an additional 403,192 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Vita Coco during the second quarter valued at $9,859,000. Finally, Vanguard Group Inc. lifted its stake in shares of Vita Coco by 10.8% during the first 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 during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Ratings Changes

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

Vita Coco Trading Down 2.7 %

NASDAQ:COCO opened at $27.78 on Tuesday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.53 and a beta of 0.23. The stock has a 50-day moving average price of $26.57 and a two-hundred day moving average price of $26.53.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business 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 business earned $0.26 earnings per share. Vita Coco’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current year.

Insiders Place Their Bets

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