Schonfeld Strategic Advisors LLC Makes New Investment in The Vita Coco Company, Inc. (NASDAQ:COCO)

Schonfeld Strategic Advisors LLC acquired a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,200 shares of the company's stock, valued at approximately $746,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after buying an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the fourth quarter worth $52,000. Venturi Wealth Management LLC bought a new position in shares of Vita Coco in the 4th quarter valued at about $66,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Stock Down 5.0 %

Shares of Vita Coco stock opened at $33.27 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32. The company has a 50-day simple moving average of $32.29 and a two-hundred day simple moving average of $34.50.

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

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 700 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total transaction of $28,175.00. Following the sale, the chief operating officer now directly owns 104,108 shares in the company, valued at $4,190,347. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the transaction, the chairman now owns 1,663,049 shares of the company's stock, valued at $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,358 shares of company stock worth $2,865,456. Company insiders own 34.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI upped their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research 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 report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.38.

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.

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