Conestoga Capital Advisors LLC Acquires New Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Conestoga Capital Advisors LLC bought a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,670 shares of the company's stock, valued at approximately $1,010,000. Conestoga Capital Advisors LLC owned approximately 0.06% of Vita Coco at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC raised its position in shares of Vita Coco by 271.4% during the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock valued at $72,000 after buying an additional 1,900 shares in the last quarter. CWM LLC boosted its holdings in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock valued at $76,000 after acquiring an additional 787 shares during the period. PNC Financial Services Group Inc. grew its position in Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock valued at $89,000 after acquiring an additional 3,210 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock worth $92,000 after purchasing an additional 919 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after purchasing an additional 3,675 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on COCO shares. Piper Sandler downgraded shares of Vita Coco from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Jefferies Financial Group reduced their price target on Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. Craig Hallum raised their price target on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America boosted their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on Vita Coco from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Vita Coco Price Performance

Shares of COCO traded up $2.36 during mid-day trading on Friday, reaching $31.97. The company's stock had a trading volume of 1,210,829 shares, compared to its average volume of 619,638. The stock has a market cap of $1.82 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.45 and a beta of 0.23. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $32.98. The company's 50 day moving average is $27.84 and its 200 day moving average is $27.05.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Vita Coco had a return on equity of 27.64% and a net margin of 11.99%. The firm had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. During the same quarter last year, the business posted $0.26 EPS. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 905 shares of the business's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the sale, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 4,949 shares of company stock worth $148,585. 34.20% of the stock is owned by corporate insiders.

Vita Coco 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.