Man Group plc Trims Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Man Group plc trimmed its stake 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 disclosure with the Securities & Exchange Commission. The fund owned 268,769 shares of the company's stock after selling 131,935 shares during the quarter. Man Group plc owned approximately 0.47% of Vita Coco worth $9,920,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in COCO. Coppell Advisory Solutions LLC raised its holdings in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco in the fourth quarter valued at $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco in the fourth quarter valued at $66,000. Summit Investment Advisors Inc. increased its stake in Vita Coco by 9.2% in the fourth 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. Finally, IHT Wealth Management LLC acquired a new position in Vita Coco in the fourth quarter valued at $216,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the sale, the chairman now owns 1,663,049 shares of the company's stock, valued at $58,206,715. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the sale, the chief operating officer now directly owns 94,108 shares of the company's stock, valued at $3,076,390.52. The trade was a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,864,762 shares of company stock valued at $132,479,079 over the last quarter. Company insiders own 32.30% of the company's stock.

Vita Coco Trading Down 0.2%

NASDAQ:COCO traded down $0.08 on Friday, hitting $36.20. 466,743 shares of the stock were exchanged, compared to its average volume of 627,979. The stock has a market cap of $2.05 billion, a PE ratio of 36.57, a PEG ratio of 2.25 and a beta of 0.38. The stock has a fifty day moving average of $32.49 and a 200-day moving average of $34.79. The Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its 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. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company's revenue was up 17.2% compared to the same quarter last year. As a group, analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. Stephens reiterated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Evercore ISI upped 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. Wells Fargo & Company dropped their target price 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. Finally, The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.38.

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.