Vita Coco Company, Inc. $COCO Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 33.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,835 shares of the company’s stock after selling 31,987 shares during the period. Quantbot Technologies LP’s holdings in Vita Coco were worth $2,754,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in COCO. Vanguard Group Inc. raised its position in shares of Vita Coco by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock valued at $123,676,000 after buying an additional 97,233 shares during the period. Artisan Partners Limited Partnership grew its position in Vita Coco by 12.1% in the third quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after acquiring an additional 224,305 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Vita Coco in the third quarter worth approximately $62,815,000. Westfield Capital Management Co. LP acquired a new stake in Vita Coco during the third quarter worth $45,135,000. Finally, Geode Capital Management LLC raised its position in Vita Coco by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock valued at $36,759,000 after purchasing an additional 28,448 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of COCO opened at $54.12 on Wednesday. The company’s 50-day simple moving average is $54.64 and its 200-day simple moving average is $47.43. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $59.88. The stock has a market capitalization of $3.09 billion, a PE ratio of 45.86, a P/E/G ratio of 1.71 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.Vita Coco’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. On average, sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Transactions at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total transaction of $210,288.00. Following the completion of the transaction, the director directly owned 608,266 shares of the company’s stock, valued at $32,797,702.72. The trade was a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.91, for a total value of $808,650.00. Following the sale, the director owned 17,179 shares in the company, valued at approximately $926,119.89. This trade represents a 46.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 72,800 shares of company stock valued at $4,052,956. 34.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COCO has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. The Goldman Sachs Group upped their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley increased their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $54.88.

Vita Coco Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.