Dimensional Fund Advisors LP Increases Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Dimensional Fund Advisors LP boosted its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 904,755 shares of the company's stock after purchasing an additional 51,944 shares during the period. Dimensional Fund Advisors LP owned approximately 1.59% of Vita Coco worth $33,393,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Summit Investment Advisors Inc. grew its stake in Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $29,000 after purchasing an additional 360 shares during the period. Moran Wealth Management LLC boosted its position in Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock valued at $704,000 after buying an additional 871 shares during the last quarter. West Coast Financial LLC increased its holdings in Vita Coco by 1.2% in the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after buying an additional 1,109 shares during the period. Finally, Summit Creek Advisors LLC increased its holdings in Vita Coco by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company's stock worth $14,837,000 after buying an additional 1,193 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Stock Up 2.2 %

COCO stock opened at $34.21 on Monday. The Vita Coco Company, Inc. has a 52-week low of $23.56 and a 52-week high of $40.32. The company's 50-day simple moving average is $32.11 and its 200-day simple moving average is $34.39. The firm has a market cap of $1.95 billion, a P/E ratio of 34.56, a PEG ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $130.92 million for 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%. Vita Coco's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on COCO shares. Stephens restated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Wells Fargo & Company decreased their target price 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 increased their price target on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Evercore ISI lifted their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares of the company's stock, valued at $69,355,336.53. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the sale, the chief operating officer now directly owns 94,108 shares of the company's stock, valued at $3,076,390.52. This represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is owned by company insiders.

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.

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