JPMorgan Chase & Co. Sells 85,431 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

JPMorgan Chase & Co. lowered its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 18.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 372,079 shares of the company's stock after selling 85,431 shares during the quarter. JPMorgan Chase & Co. owned 0.66% of Vita Coco worth $10,534,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% during the 3rd 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 period. ProShare Advisors LLC purchased a new position in shares of Vita Coco during the second quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vita Coco by 25.6% during 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 during the period. LVW Advisors LLC bought a new position in shares of Vita Coco during the third quarter valued at approximately $209,000. Finally, BOKF NA purchased a new stake in Vita Coco in the second quarter worth $254,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares of the company's stock, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 1,400 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $30.04, for a total value of $42,056.00. Following the transaction, the chief operating officer now directly owns 121,900 shares in the company, valued at approximately $3,661,876. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,929 shares of company stock worth $5,324,683. 34.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COCO. Wells Fargo & Company boosted their price objective 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. Bank of America increased their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.14.

Vita Coco Stock Down 1.2 %

COCO stock opened at $33.58 on Monday. The business has a 50 day moving average of $35.63 and a 200 day moving average of $30.21. The firm has a market cap of $1.91 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.42 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.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. The firm 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 company's revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

About Vita Coco

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.