The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 10.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,041,662 shares of the company's stock after purchasing an additional 101,823 shares during the quarter. Geode Capital Management LLC owned approximately 1.84% of Vita Coco worth $29,494,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. nVerses Capital LLC boosted its position in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock worth $72,000 after purchasing an additional 1,900 shares in the last quarter. Quest Partners LLC raised its stake in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Vita Coco in the second quarter worth about $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $199,000 after acquiring an additional 1,434 shares during the last quarter. Finally, LVW Advisors LLC acquired a new position in shares of Vita Coco during the third quarter valued at about $209,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COCO has been the subject of a number of recent analyst reports. Bank of America lifted their target price 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. Craig Hallum boosted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.14.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the transaction, the chief operating officer now owns 124,605 shares of the company's stock, valued at approximately $3,739,396.05. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin F. Roper sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.35, for a total transaction of $176,750.00. Following the completion of the transaction, the chief executive officer now owns 447,452 shares of the company's stock, valued at approximately $15,817,428.20. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,173 shares of company stock worth $5,392,026. 34.20% of the stock is owned by corporate insiders.

Vita Coco Price Performance

Shares of NASDAQ:COCO remained flat at $36.34 during midday trading on Friday. 215,612 shares of the stock were exchanged, compared to its average volume of 596,427. The firm has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $29.72. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.88. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $133.00 million for 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 revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. Equities analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

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.