LPL Financial LLC Sells 15,134 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

LPL Financial LLC trimmed its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 70.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,355 shares of the company's stock after selling 15,134 shares during the period. LPL Financial LLC's holdings in Vita Coco were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COCO. KLP Kapitalforvaltning AS purchased a new stake in Vita Coco during the 4th quarter worth approximately $399,000. Quantbot Technologies LP acquired a new stake in shares of Vita Coco during the fourth quarter worth about $1,291,000. Teacher Retirement System of Texas purchased a new position in shares of Vita Coco during the fourth quarter worth approximately $2,169,000. Harvest Fund Management Co. Ltd purchased a new position in Vita Coco during the 4th quarter worth $457,000. Finally, Thrivent Financial for Lutherans purchased a new stake in Vita Coco during the 4th quarter valued at approximately $10,715,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Up 2.2 %

COCO traded up $0.74 during trading on Friday, reaching $34.21. 709,457 shares of the company's stock were exchanged, compared to its average volume of 599,120. The company has a market capitalization of $1.95 billion, a P/E ratio of 34.56, a PEG ratio of 2.25 and a beta of 0.38. The business has a 50 day moving average price of $32.11 and a 200 day moving average price of $34.31. The Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32.

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

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 20,235 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.07, for a total transaction of $810,816.45. Following the completion of the transaction, the director now directly owns 814,302 shares in the company, valued at approximately $32,629,081.14. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,358 shares of company stock worth $2,865,456 over the last 90 days. 34.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COCO. The Goldman Sachs Group increased their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Evercore ISI upped their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

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.