Fmr LLC Sells 722,954 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

FMR LLC trimmed its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 31.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,573,778 shares of the company's stock after selling 722,954 shares during the period. FMR LLC owned approximately 2.77% of Vita Coco worth $44,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COCO. Victory Capital Management Inc. grew its position in Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after acquiring an additional 461,748 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Vita Coco during the second quarter valued at approximately $9,859,000. Harbor Capital Advisors Inc. grew its position in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock valued at $9,668,000 after acquiring an additional 200,940 shares during the last quarter. Summit Creek Advisors LLC grew its position in Vita Coco by 123.3% during the second quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company's stock valued at $9,487,000 after acquiring an additional 188,060 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company's stock valued at $21,623,000 after acquiring an additional 156,033 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COCO. Bank of America increased their price objective on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday. Craig Hallum increased their price objective on 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 assigned a buy rating to the stock. According to MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and an average target price of $32.14.

Vita Coco Stock Performance

COCO stock traded up $0.27 on Friday, reaching $36.31. The company's stock had a trading volume of 322,427 shares, compared to its average volume of 408,243. The business has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $28.88. The firm has a market cap of $2.06 billion, a PE ratio of 36.68, a PEG ratio of 2.39 and a beta of 0.31. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $37.20.

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

Insiders Place Their Bets

In related news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $36.24, for a total value of $181,200.00. Following the completion of the sale, the chief executive officer now directly owns 382,152 shares in the company, valued at approximately $13,849,188.48. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the sale, the director now owns 883,729 shares of the company's stock, valued at $31,849,593.16. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,951 shares of company stock worth $3,021,869. 34.20% of the stock is owned by corporate insiders.

Vita Coco Company 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.