GAMMA Investing LLC Boosts Stock Position in Vita Coco Company, Inc. (NASDAQ:COCO)

GAMMA Investing LLC grew its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 3,258.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,328 shares of the company's stock after acquiring an additional 25,544 shares during the quarter. GAMMA Investing LLC's holdings in Vita Coco were worth $859,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Vita Coco by 173.2% during the 4th quarter. Wellington Management Group LLP now owns 252,941 shares of the company's stock valued at $9,336,000 after purchasing an additional 160,353 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Vita Coco by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company's stock valued at $6,111,000 after purchasing an additional 2,587 shares during the last quarter. Woodson Capital Management LP increased its position in shares of Vita Coco by 4.5% during the 4th quarter. Woodson Capital Management LP now owns 709,615 shares of the company's stock valued at $26,192,000 after purchasing an additional 30,553 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Vita Coco during the 4th quarter valued at about $323,000. Finally, Millennium Management LLC increased its position in shares of Vita Coco by 24.9% during the 4th quarter. Millennium Management LLC now owns 25,515 shares of the company's stock valued at $942,000 after purchasing an additional 5,087 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analysts Set New Price Targets

COCO has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, Evercore ISI boosted 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, May 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.88.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $34.69, for a total value of $135,291.00. Following the completion of the transaction, the director now directly owns 635,566 shares of the company's stock, valued at approximately $22,047,784.54. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Jane Prior sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $35.12, for a total value of $351,200.00. Following the completion of the sale, the chief marketing officer now owns 134,188 shares of the company's stock, valued at $4,712,682.56. This trade represents a 6.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,822,662 shares of company stock valued at $131,036,070 over the last quarter. 32.30% of the stock is currently owned by company insiders.

Vita Coco Stock Performance

COCO traded down $0.58 on Friday, hitting $35.12. The company had a trading volume of 528,567 shares, compared to its average volume of 612,532. The stock has a fifty day moving average price of $33.89 and a 200-day moving average price of $34.68. Vita Coco Company, Inc. has a 12-month low of $23.56 and a 12-month high of $40.32. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 1.86 and a beta of 0.39.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. Analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Vita Coco 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.