Ameriprise Financial Inc. Sells 16,626 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Ameriprise Financial Inc. decreased its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,726,769 shares of the company's stock after selling 16,626 shares during the period. Ameriprise Financial Inc. owned approximately 3.04% of Vita Coco worth $63,735,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock valued at $104,414,000 after buying an additional 427,871 shares during the period. Vanguard Group Inc. raised its holdings in Vita Coco by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company's stock valued at $95,565,000 after buying an additional 11,712 shares during the period. Artisan Partners Limited Partnership raised its holdings in Vita Coco by 14.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock valued at $55,460,000 after buying an additional 185,692 shares during the period. Loomis Sayles & Co. L P raised its holdings in Vita Coco by 15.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after buying an additional 193,420 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Vita Coco by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company's stock valued at $33,393,000 after acquiring an additional 51,944 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.38.

Vita Coco Price Performance

Shares of NASDAQ COCO traded up $0.44 during midday trading on Tuesday, reaching $33.15. 1,690,491 shares of the company traded hands, compared to its average volume of 612,965. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32. The stock has a 50-day moving average price of $32.29 and a 200 day moving average price of $34.59. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $130.92 million for the quarter, compared to analysts' expectations of $125.64 million. During the same period in the previous year, the business earned $0.24 earnings per share. The company's revenue was up 17.2% on a year-over-year basis. As a group, analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 20,235 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now directly owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jonathan Burth sold 700 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now owns 104,108 shares of the company's stock, valued at $4,190,347. This represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,854,120 shares of company stock valued at $132,155,214 over the last quarter. Company insiders own 32.30% of the company's stock.

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.