Intech Investment Management LLC Sells 9,142 Shares of Vita Coco Company, Inc. $COCO

Intech Investment Management LLC cut its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 40.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,614 shares of the company’s stock after selling 9,142 shares during the period. Intech Investment Management LLC’s holdings in Vita Coco were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of COCO. US Bancorp DE raised its stake in shares of Vita Coco by 90.4% during the third quarter. US Bancorp DE now owns 8,071 shares of the company’s stock worth $343,000 after buying an additional 3,831 shares during the last quarter. MAI Capital Management boosted its stake in Vita Coco by 346.3% in the third quarter. MAI Capital Management now owns 4,079 shares of the company’s stock valued at $173,000 after acquiring an additional 3,165 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares during the period. King Luther Capital Management Corp bought a new stake in shares of Vita Coco during the 3rd quarter valued at $4,292,000. Finally, Vanguard Group Inc. raised its position in shares of Vita Coco by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock valued at $123,676,000 after acquiring an additional 97,233 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 4.1%

Shares of COCO stock opened at $54.91 on Wednesday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $59.88. The firm has a fifty day moving average of $54.64 and a 200-day moving average of $48.07. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. Research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $56.65, for a total value of $1,699,500.00. Following the completion of the transaction, the director directly owned 572,579 shares in the company, valued at approximately $32,436,600.35. The trade was a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Jane Prior sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the sale, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 122,800 shares of company stock valued at $6,698,956 over the last ninety days. 34.20% of the stock is owned by insiders.

Analyst Ratings Changes

COCO has been the topic of several recent research reports. Evercore restated an “outperform” rating and issued a $58.00 price target on shares of Vita Coco in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Jefferies Financial Group increased their target price on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Wells Fargo & Company raised their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.