The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,566 shares of the company's stock after selling 18,421 shares during the period. Gotham Asset Management LLC owned about 0.10% of Vita Coco worth $2,125,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company's stock valued at $1,969,000 after purchasing an additional 46,385 shares in the last quarter. West Coast Financial LLC lifted its holdings in Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after buying an additional 1,109 shares during the period. SG Americas Securities LLC lifted its holdings in Vita Coco by 94.2% during the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company's stock worth $875,000 after buying an additional 11,500 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the 4th quarter valued at $52,000. Finally, Catalina Capital Group LLC purchased a new position in shares of Vita Coco in the 4th quarter valued at $248,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Down 0.6%

Shares of COCO traded down $0.22 during mid-day trading on Wednesday, hitting $36.96. 133,956 shares of the company traded hands, compared to its average volume of 621,319. The company has a market capitalization of $2.10 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The business has a 50 day moving average of $32.39 and a 200 day moving average of $34.76. 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 issued its quarterly earnings results 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. The business had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In other Vita Coco news, Chairman Michael Kirban sold 6,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. The trade was a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the transaction, the insider now owns 7,097,161 shares of the company's stock, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,830,762 shares of company stock valued at $131,219,259 over the last ninety days. 32.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

COCO has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Stephens reaffirmed an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Finally, Evercore ISI increased their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.