Oak Ridge Investments LLC Cuts Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Oak Ridge Investments LLC cut its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,723 shares of the company’s stock after selling 2,659 shares during the quarter. Oak Ridge Investments LLC’s holdings in Vita Coco were worth $3,828,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COCO. GAMMA Investing LLC boosted its stake in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Quest Partners LLC boosted its position in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Vita Coco in the second quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares in the last quarter. Finally, LVW Advisors LLC acquired a new position in shares of Vita Coco during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.3 %

COCO opened at $34.60 on Friday. The firm has a market capitalization of $1.96 billion, a PE ratio of 34.95, a PEG ratio of 2.02 and a beta of 0.31. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $37.88. The firm’s 50-day moving average price is $35.56 and its 200 day moving average price is $30.43.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COCO. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum raised their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.14.

Insiders Place Their Bets

In related news, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.35, for a total value of $176,750.00. Following the transaction, the chief executive officer now directly owns 447,452 shares in the company, valued at approximately $15,817,428.20. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the sale, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,529 shares of company stock valued at $5,312,683 in the last three months. 34.20% of the stock is currently owned by insiders.

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.