Wellington Management Group LLP Acquires 160,353 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Wellington Management Group LLP raised its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 173.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,941 shares of the company's stock after purchasing an additional 160,353 shares during the quarter. Wellington Management Group LLP owned approximately 0.44% of Vita Coco worth $9,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COCO. Wasatch Advisors LP increased its position in Vita Coco by 17.8% during the 4th 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 during the period. Bank of America Corp DE increased its position in Vita Coco by 382.2% during the 4th 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 during the period. Driehaus Capital Management LLC increased its position in Vita Coco by 77.3% during the 4th 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 during the period. Thrivent Financial for Lutherans purchased a new position in Vita Coco during the 4th quarter valued at $10,715,000. Finally, Raymond James Financial Inc. purchased a new position in Vita Coco during the 4th quarter valued at $7,985,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $37.07, for a total transaction of $741,400.00. Following the transaction, the chairman now owns 1,643,049 shares in the company, valued at approximately $60,907,826.43. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Zupo sold 8,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $34.77, for a total transaction of $278,160.00. Following the transaction, the director now owns 8,876 shares in the company, valued at $308,618.52. This represents a 47.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,854,762 shares of company stock worth $132,152,179. Company insiders own 32.30% of the company's stock.

Vita Coco Price Performance

COCO stock traded down $0.39 during trading on Wednesday, hitting $34.61. 390,244 shares of the stock traded hands, compared to its average volume of 621,566. The Vita Coco Company, Inc. has a 1 year low of $23.56 and a 1 year high of $40.32. The firm's 50 day moving average is $32.69 and its two-hundred day moving average is $34.83. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 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 the consensus estimate of $125.64 million. During the same period in the prior year, the firm posted $0.24 EPS. Vita Coco's revenue for the quarter was up 17.2% on a year-over-year basis. As a group, analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on COCO. Stephens restated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Evercore ISI boosted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 30th. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Vita Coco from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $35.88.

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.