XTX Topco Ltd Cuts Position in Vita Coco Company, Inc. (NASDAQ:COCO)

Key Points

• XTX Topco Ltd has reduced its stake in Vita Coco by 51.0%, selling 8,194 shares and now holding 7,871 shares valued at $241,000.
• Insider Michael Kirban sold 20,000 shares of Vita Coco for $741,400, resulting in a 1.20% decrease in his ownership.
• Analysts have mixed opinions on Vita Coco, with a consensus rating of "Moderate Buy" and an average target price of $38.29.

XTX Topco Ltd trimmed its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 51.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,871 shares of the company's stock after selling 8,194 shares during the quarter. XTX Topco Ltd's holdings in Vita Coco were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. GW&K Investment Management LLC increased its position in Vita Coco by 16.2% during the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company's stock valued at $23,191,000 after buying an additional 105,401 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Vita Coco during the 1st quarter valued at about $1,609,000. Victory Capital Management Inc. increased its position in Vita Coco by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock valued at $19,776,000 after buying an additional 247,339 shares in the last quarter. CWM LLC increased its position in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after buying an additional 367 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Vita Coco by 29.6% during the 1st quarter. New York State Common Retirement Fund now owns 443,116 shares of the company's stock valued at $13,582,000 after buying an additional 101,263 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vita Coco news, CMO Jane Prior sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $37.07, for a total transaction of $370,700.00. Following the completion of the sale, the chief marketing officer owned 134,188 shares of the company's stock, valued at $4,974,349.16. This trade represents a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the sale, the insider directly owned 94,127 shares of the company's stock, valued at $3,578,708.54. The trade was a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,800 shares of company stock worth $2,644,046 in the last three months. 32.30% of the stock is owned by insiders.

Analysts Set New Price Targets

COCO has been the topic of several recent analyst reports. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Morgan Stanley increased their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.29.

Vita Coco Trading Down 0.3%

COCO stock traded down $0.11 during midday trading on Friday, hitting $33.07. 632,158 shares of the company's stock were exchanged, compared to its average volume of 790,361. The business has a 50-day simple moving average of $35.74 and a two-hundred day simple moving average of $34.73. The stock has a market capitalization of $1.88 billion, a PE ratio of 30.91, a P/E/G ratio of 1.75 and a beta of 0.37. Vita Coco Company, Inc. has a 1-year low of $24.09 and a 1-year high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.