Invesco Ltd. Decreases Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Invesco Ltd. decreased its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 86.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,633 shares of the company's stock after selling 120,876 shares during the quarter. Invesco Ltd.'s holdings in Vita Coco were worth $725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans acquired a new position in shares of Vita Coco in the 4th quarter valued at about $10,715,000. Raymond James Financial Inc. purchased a new stake in Vita Coco in the 4th quarter worth approximately $7,985,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $7,609,000. Loomis Sayles & Co. L P increased its holdings in shares of Vita Coco by 15.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after purchasing an additional 193,420 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Vita Coco by 14.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after buying an additional 185,692 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insiders Place Their Bets

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares in the company, valued at $69,355,336.53. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jonathan Burth sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the sale, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. This represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,358 shares of company stock valued at $2,865,456 over the last 90 days. 34.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens reiterated an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Evercore ISI boosted their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.38.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded down $0.52 during mid-day trading on Thursday, reaching $34.98. The company's stock had a trading volume of 56,151 shares, compared to its average volume of 598,454. The stock has a market capitalization of $1.98 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.25 and a beta of 0.38. The stock has a 50-day moving average of $32.25 and a two-hundred day moving average of $34.44. The Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. Vita Coco's quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.