XTX Topco Ltd Reduces 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 cut its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 51.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & 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 quarter.

A number of other large investors have also recently made changes to their positions in the company. Wasatch Advisors LP boosted its position in shares of Vita Coco by 17.8% in 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. D. E. Shaw & Co. Inc. lifted its position in Vita Coco by 6.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock worth $41,713,000 after acquiring an additional 64,011 shares during the period. Dimensional Fund Advisors LP lifted its position in Vita Coco by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company's stock worth $33,393,000 after acquiring an additional 51,944 shares during the period. Driehaus Capital Management LLC lifted 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 worth $31,544,000 after acquiring an additional 372,633 shares during the period. Finally, GW&K Investment Management LLC lifted 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 worth $23,191,000 after acquiring an additional 105,401 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of COCO stock traded down $0.11 during trading hours on Friday, reaching $33.07. 632,158 shares of the company's stock were exchanged, compared to its average volume of 725,028. The company has a market cap of $1.88 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37. The company's 50 day moving average is $35.76 and its two-hundred day moving average is $34.79. 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 issued its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%. The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COCO has been the subject of a number of recent research reports. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Morgan Stanley increased their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Evercore ISI increased 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. 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Vita Coco has a consensus rating of "Moderate Buy" and a consensus target price of $38.29.

Insider Transactions at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $37.65, for a total value of $146,835.00. Following the completion of the transaction, the director directly owned 631,666 shares of the company's stock, valued at $23,782,224.90. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $37.07, for a total value of $741,400.00. Following the completion of the transaction, the chairman directly owned 1,643,049 shares of the company's stock, valued at $60,907,826.43. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,800 shares of company stock valued at $2,644,046. Company insiders own 32.30% of the company's stock.

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.