Loomis Sayles & Co. L P Sells 27,926 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Loomis Sayles & Co. L P decreased its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,579 shares of the company's stock after selling 27,926 shares during the period. Loomis Sayles & Co. L P owned 2.17% of Vita Coco worth $34,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COCO. Vanguard Group Inc. increased its stake in shares of Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company's stock valued at $58,032,000 after acquiring an additional 230,991 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after buying an additional 461,748 shares during the period. Dimensional Fund Advisors LP increased its position in Vita Coco by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company's stock valued at $21,623,000 after buying an additional 156,033 shares in the last quarter. William Blair Investment Management LLC raised its stake in Vita Coco by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 761,315 shares of the company's stock worth $21,203,000 after buying an additional 56,416 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Vita Coco in the second quarter worth approximately $9,859,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Down 1.2 %

NASDAQ COCO traded down $0.43 on Tuesday, reaching $35.91. The company had a trading volume of 249,193 shares, compared to its average volume of 615,789. The stock has a market capitalization of $2.04 billion, a P/E ratio of 36.71, a P/E/G ratio of 2.36 and a beta of 0.22. The company's fifty day moving average is $31.02 and its 200 day moving average is $28.32. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $37.05.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm's revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Separately, Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Activity at Vita Coco

In other news, CMO Jane Prior sold 3,888 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $37.01, for a total transaction of $143,894.88. Following the transaction, the chief marketing officer now owns 131,834 shares of the company's stock, valued at $4,879,176.34. This represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 directly owns 883,729 shares of the company's stock, valued at approximately $31,849,593.16. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,313 shares of company stock valued at $1,813,768. 34.20% of the stock is owned by insiders.

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.