Allworth Financial LP Sells 38,981 Shares of Vita Coco Company, Inc. $COCO

Key Points

• Allworth Financial LP cut its Vita Coco stake by 32.7% in the fourth quarter, selling 38,981 shares and leaving it with 80,079 shares valued at about $4.25 million.
• Vita Coco reported strong quarterly results, with EPS of $0.50 versus $0.34 expected and revenue of $179.77 million versus $148.39 million expected; revenue rose 37.4% year over year.
• The stock has rallied sharply, trading near its 52-week high at $78.44, while analysts remain broadly positive with a consensus rating of Moderate Buy and a target price of $69.00.

Allworth Financial LP lowered its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,079 shares of the company's stock after selling 38,981 shares during the period. Allworth Financial LP owned 0.14% of Vita Coco worth $4,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in shares of Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP grew its holdings in shares of Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after purchasing an additional 758 shares during the last quarter. GAMMA Investing LLC lifted its stake in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock worth $60,000 after acquiring an additional 227 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after acquiring an additional 1,344 shares during the period. Finally, CWM LLC lifted its stake in Vita Coco by 18.2% in the fourth quarter. CWM LLC now owns 1,505 shares of the company's stock worth $80,000 after acquiring an additional 232 shares during the period. Institutional investors own 88.49% of the company's stock.

Vita Coco Trading Up 2.6%

Shares of COCO opened at $78.44 on Friday. The firm has a market cap of $4.48 billion, a P/E ratio of 57.26, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $78.55. The company's 50-day moving average price is $55.82 and its 200 day moving average price is $53.30.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The firm had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm's quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. Equities research analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Vita Coco news, CEO Martin Roper sold 25,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $50.11, for a total value of $1,252,750.00. Following the completion of the transaction, the chief executive officer owned 298,484 shares in the company, valued at approximately $14,957,033.24. This represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Michael Kirban sold 50,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $68.00, for a total value of $3,400,000.00. Following the completion of the transaction, the chairman owned 515,681 shares of the company's stock, valued at $35,066,308. The trade was a 8.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 488,361 shares of company stock worth $28,603,572. 32.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Vita Coco from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Jefferies Financial Group increased their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Evercore reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Vita Coco in a research report on Thursday, March 12th. Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Vita Coco from a "sell" rating to a "buy" rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

About Vita Coco

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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