Gotham Asset Management LLC Cuts Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Gotham Asset Management LLC lessened its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 24.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,566 shares of the company's stock after selling 18,421 shares during the quarter. Gotham Asset Management LLC owned approximately 0.10% of Vita Coco worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Coppell Advisory Solutions LLC boosted its stake in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in Vita Coco in the fourth quarter worth about $52,000. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco in the 4th quarter worth approximately $66,000. Summit Investment Advisors Inc. increased its position in Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after acquiring an additional 347 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Vita Coco in the 4th quarter worth about $216,000. Institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COCO. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Stephens reissued an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Wells Fargo & Company reduced their target price 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. Finally, Evercore ISI raised their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.38.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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. The trade was a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the transaction, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,832,485 shares of company stock valued at $131,288,213 over the last 90 days. Insiders own 32.30% of the company's stock.

Vita Coco Price Performance

COCO traded up $0.50 on Monday, reaching $36.12. 464,711 shares of the stock were exchanged, compared to its average volume of 621,371. The company's 50-day moving average price is $32.32 and its 200 day moving average price is $34.72. The firm has a market capitalization of $2.05 billion, a PE ratio of 36.48, a PEG ratio of 2.25 and a beta of 0.38. 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 released its earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company's revenue was up 17.2% compared to the same quarter last year. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share 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.