Harbor Capital Advisors Inc. Has $842,000 Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Harbor Capital Advisors Inc. trimmed its position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 83.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,458 shares of the company's stock after selling 134,465 shares during the period. Harbor Capital Advisors Inc.'s holdings in Vita Coco were worth $842,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC boosted its stake in Vita Coco by 91.5% in the fourth 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. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco during the fourth quarter worth approximately $66,000. Summit Investment Advisors Inc. boosted its position in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after buying an additional 347 shares during the period. IHT Wealth Management LLC acquired a new position in shares of Vita Coco during the fourth quarter worth approximately $216,000. Finally, Entropy Technologies LP acquired a new position in shares of Vita Coco during the fourth quarter worth approximately $220,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Down 2.1%

COCO traded down $0.72 during trading on Friday, reaching $33.06. The stock had a trading volume of 352,212 shares, compared to its average volume of 614,061. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39. The Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32. The stock has a 50 day moving average of $33.44 and a two-hundred day moving average of $34.70.

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

Insider Buying and Selling at Vita Coco

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the transaction, the insider now owns 7,097,161 shares of the company's stock, valued at approximately $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 14,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $37.03, for a total value of $518,420.00. Following the completion of the transaction, the chairman now directly owns 1,629,049 shares in the company, valued at $60,323,684.47. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,834,762 shares of company stock valued at $131,460,779. Corporate insiders own 32.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on COCO. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Stephens reiterated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Evercore ISI boosted their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Vita Coco presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.88.

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.