Man Group plc Sells 131,935 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Man Group plc trimmed its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 268,769 shares of the company's stock after selling 131,935 shares during the quarter. Man Group plc owned 0.47% of Vita Coco worth $9,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Coppell Advisory Solutions LLC boosted its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco in the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco during the fourth quarter valued at approximately $66,000. Summit Investment Advisors Inc. grew its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new stake in Vita Coco during the 4th quarter valued at $216,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Trading Down 1.5%

Vita Coco stock traded down $0.56 during trading hours on Thursday, hitting $36.28. 405,430 shares of the stock traded hands, compared to its average volume of 624,273. The Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The firm's 50-day moving average price is $32.44 and its two-hundred day moving average price is $34.78. The company has a market cap of $2.06 billion, a PE ratio of 36.65, a PEG ratio of 2.25 and a beta of 0.38.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on COCO. 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 note on Thursday, February 27th. Stephens reaffirmed an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Evercore ISI boosted their target price on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $35.38.

Insider Activity

In other Vita Coco news, Chairman Michael Kirban sold 14,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $37.03, for a total transaction of $518,420.00. Following the completion of the transaction, the chairman now owns 1,629,049 shares of the company's stock, valued at approximately $60,323,684.47. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total transaction of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares of the company's stock, valued at $3,076,390.52. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,864,762 shares of company stock worth $132,479,079. Corporate insiders own 32.30% of the company's stock.

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.