SG Americas Securities LLC Increases Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

SG Americas Securities LLC grew its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 94.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,707 shares of the company's stock after acquiring an additional 11,500 shares during the quarter. SG Americas Securities LLC's holdings in Vita Coco were worth $875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Coast Financial LLC raised its holdings in shares of Vita Coco by 1.2% in the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after buying an additional 1,109 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares during the period. Lord Abbett & CO. LLC raised its stake in Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock worth $13,034,000 after acquiring an additional 80,128 shares during the last quarter. TT International Asset Management LTD lifted its position in Vita Coco by 1,643.7% during the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company's stock worth $5,129,000 after acquiring an additional 170,797 shares during the period. Finally, Geode Capital Management LLC grew its stake in Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock valued at $29,494,000 after purchasing an additional 101,823 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

NASDAQ COCO traded down $0.64 during mid-day trading on Friday, reaching $37.44. 774,851 shares of the stock were exchanged, compared to its average volume of 458,584. The company has a market capitalization of $2.12 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.27 and a beta of 0.31. The business's 50 day moving average is $36.00 and its 200-day moving average is $31.06. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $38.91.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same period in the prior year, the company posted $0.26 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict 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, COO Jonathan Burth sold 4,052 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total value of $152,355.20. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at approximately $3,914,460.80. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the sale, the chief executive officer now owns 452,452 shares in the company, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,276 shares of company stock worth $5,395,796. 34.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COCO shares. Stephens downgraded Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price for the company. in a report on Monday, January 27th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $33.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Bank of America increased their price objective 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 raised their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.83.

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.