D. E. Shaw & Co. Inc. Raises Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

D. E. Shaw & Co. Inc. increased its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,130,117 shares of the company's stock after acquiring an additional 64,011 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.99% of Vita Coco worth $41,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of 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 last quarter. Bank of America Corp DE boosted its position in Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock worth $18,902,000 after purchasing an additional 405,913 shares during the period. Driehaus Capital Management LLC boosted its position in Vita Coco by 77.3% during the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock worth $31,544,000 after purchasing an additional 372,633 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of Vita Coco during the fourth quarter worth $10,715,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Vita Coco during the fourth quarter worth $7,985,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Price Performance

Shares of Vita Coco stock traded up $0.84 during trading hours on Wednesday, hitting $33.99. 1,424,156 shares of the company's stock traded hands, compared to its average volume of 616,342. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 12-month low of $23.56 and a 12-month high of $40.32. The company has a fifty day simple moving average of $32.31 and a 200-day simple moving average of $34.58.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. On average, analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COCO has been the topic of a number of recent analyst reports. Stephens reiterated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Evercore ISI lifted their target price on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.38.

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.25, for a total transaction of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at approximately $4,190,347. This trade represents a 0.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the transaction, the insider now directly owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,853,420 shares of company stock worth $132,127,204. 32.30% of the stock is owned by company insiders.

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.