AMI Asset Management Corp Sells 101,625 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

AMI Asset Management Corp lessened its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 58.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,877 shares of the company’s stock after selling 101,625 shares during the period. AMI Asset Management Corp owned 0.13% of Vita Coco worth $2,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COCO. Raymond James & Associates bought a new position in Vita Coco during the fourth quarter worth $796,000. International Assets Investment Management LLC acquired a new stake in Vita Coco in the fourth quarter worth $329,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Vita Coco by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after purchasing an additional 638 shares during the period. abrdn plc acquired a new stake in Vita Coco in the fourth quarter worth $22,321,000. Finally, Syon Capital LLC acquired a new stake in Vita Coco in the fourth quarter worth $113,931,000. Institutional investors own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In other news, Director John Zupo sold 5,017 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $27.62, for a total value of $138,569.54. Following the transaction, the director now owns 8,247 shares in the company, valued at approximately $227,782.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Jonathan Burth sold 6,836 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 127,168 shares in the company, valued at $3,820,126.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Zupo sold 5,017 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total value of $138,569.54. Following the completion of the transaction, the director now owns 8,247 shares in the company, valued at approximately $227,782.14. The disclosure for this sale can be found here. Insiders have sold 31,874 shares of company stock worth $945,365 in the last 90 days. Insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 0.0 %

Vita Coco stock traded up $0.01 during midday trading on Friday, hitting $24.89. 246,259 shares of the stock were exchanged, compared to its average volume of 661,534. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29. The business’s 50-day moving average price is $26.75 and its 200-day moving average price is $25.69. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 27.42% and a net margin of 11.05%. The firm 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 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts predict that The Vita Coco Company, Inc. will post 1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COCO shares. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a report on Thursday, May 23rd. Jefferies Financial Group reduced their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. 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 report on Friday, July 12th. Finally, Bank of America lifted their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

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.