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

JW Asset Management LLC cut its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 8.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 315,621 shares of the company’s stock after selling 30,000 shares during the period. Vita Coco makes up about 3.6% of JW Asset Management LLC’s portfolio, making the stock its 5th largest holding. JW Asset Management LLC owned 0.56% of Vita Coco worth $8,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Syon Capital LLC acquired a new position in Vita Coco during the fourth quarter worth $113,931,000. Vanguard Group Inc. raised its position 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 worth $58,032,000 after purchasing an additional 230,991 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Vita Coco by 8.0% in the 2nd quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock valued at $21,203,000 after buying an additional 56,416 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Vita Coco in the 1st quarter worth about $18,210,000. Finally, GW&K Investment Management LLC purchased a new stake in Vita Coco during the 4th quarter worth approximately $13,358,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 6,836 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $30.04, for a total transaction of $205,353.44. Following the sale, the chief operating officer now directly owns 127,168 shares in the company, valued at $3,820,126.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vita Coco news, insider Es Charles Van sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $30.04, for a total value of $201,268.00. Following the completion of the transaction, the insider now owns 97,668 shares of the company’s stock, valued at approximately $2,933,946.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 6,836 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $205,353.44. Following the sale, the chief operating officer now directly owns 127,168 shares in the company, valued at approximately $3,820,126.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,272 shares of company stock valued at $548,701. Corporate insiders own 34.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on COCO shares. Bank of America raised their target price on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Wells Fargo & Company raised their price objective on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Stephens reaffirmed an “overweight” rating and set a $31.00 target price on shares of Vita Coco in a report on Thursday, May 23rd. Jefferies Financial Group decreased their price target 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. Finally, Piper Sandler cut shares of Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Vita Coco Trading Up 2.0 %

Shares of COCO stock opened at $27.40 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.30 and a beta of 0.22. The company’s 50-day moving average price is $25.99 and its 200-day moving average price is $26.16. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $32.12.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data 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 analyst estimates of $144.08 million. During the same period in the prior year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that The Vita Coco Company, Inc. will post 0.95 EPS for the current year.

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.