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

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

A number of other hedge funds have also made changes to their positions in the company. Wasatch Advisors LP boosted its position in shares of Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after buying an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new position in Vita Coco during the third quarter worth about $19,224,000. Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Vita Coco in the second quarter valued at approximately $9,859,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 1.0 %

COCO stock opened at $36.34 on Friday. The stock has a market capitalization of $2.06 billion, a price-to-earnings 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. The stock’s fifty day simple moving average is $34.32 and its 200-day simple moving average is $29.67.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same period last year, the company earned $0.26 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.07, for a total transaction of $175,350.00. Following the completion of the sale, the chief executive officer now owns 437,152 shares of the company’s stock, valued at approximately $15,330,920.64. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,739,396.05. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,173 shares of company stock valued at $5,392,026. Insiders own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.