Two Sigma Advisers LP Trims Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Two Sigma Advisers LP reduced its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,300 shares of the company's stock after selling 52,700 shares during the quarter. Two Sigma Advisers LP owned 0.69% of Vita Coco worth $14,406,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP lifted its position in shares of Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Vita Coco by 77.3% during the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock valued at $31,544,000 after purchasing an additional 372,633 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Vita Coco during the fourth quarter valued at about $10,715,000. Finally, Raymond James Financial Inc. bought a new position in shares of Vita Coco during the fourth quarter valued at about $7,985,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the sale, the insider now owns 7,097,161 shares of the company's stock, valued at $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Stock Performance

COCO stock traded up $0.38 during mid-day trading on Tuesday, hitting $36.58. The company had a trading volume of 76,903 shares, compared to its average volume of 625,790. The firm has a market cap of $2.08 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32. The stock's fifty day moving average price is $32.51 and its two-hundred day moving average price is $34.79.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly 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 net margin of 11.99% and a return on equity of 26.49%. 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 posted $0.24 earnings per share. The company's quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Stephens reaffirmed an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Evercore ISI lifted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Three 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.38.

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.