Champlain Investment Partners LLC cut its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,123,650 shares of the company's stock after selling 139,290 shares during the quarter. Champlain Investment Partners LLC owned approximately 1.98% of Vita Coco worth $31,811,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Vita Coco by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company's stock valued at $9,174,000 after purchasing an additional 57,622 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $256,000. Moran Wealth Management LLC grew its position in shares of Vita Coco by 43.5% in the third quarter. Moran Wealth Management LLC now owns 18,204 shares of the company's stock valued at $515,000 after purchasing an additional 5,517 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $1,145,000. Finally, Quest Partners LLC grew its position in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after purchasing an additional 3,473 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.07, for a total value of $175,350.00. Following the transaction, the chief executive officer now owns 437,152 shares of the company's stock, valued at approximately $15,330,920.64. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Liran sold 27,176 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares in the company, valued at approximately $31,849,593.16. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,425 shares of company stock valued at $1,669,873 over the last quarter. Company insiders own 34.20% of the company's stock.
Vita Coco Price Performance
NASDAQ:COCO traded down $0.51 during trading hours on Friday, reaching $36.12. 344,260 shares of the company were exchanged, compared to its average volume of 695,374. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.39 and a beta of 0.22. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $37.05. The stock has a 50 day simple moving average of $30.85 and a 200 day simple moving average of $28.23.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, Craig Hallum raised their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.
Check Out Our Latest Analysis on Vita Coco
Vita Coco Profile
(
Free Report)
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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