The Vita Coco Company, Inc. (NASDAQ:COCO) is JW Asset Management LLC's 4th Largest Position

JW Asset Management LLC trimmed its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 295,621 shares of the company's stock after selling 20,000 shares during the period. Vita Coco makes up about 3.8% of JW Asset Management LLC's investment portfolio, making the stock its 4th largest holding. JW Asset Management LLC owned 0.52% of Vita Coco worth $8,369,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of COCO. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Vita Coco during the 3rd quarter valued at $1,145,000. Quest Partners LLC increased its position in shares of 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 last quarter. Victory Capital Management Inc. grew its holdings in Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after buying an additional 200,940 shares during the period. Finally, Conestoga Capital Advisors LLC purchased a new stake in shares of Vita Coco during the third quarter valued at $1,010,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on COCO shares. Jefferies Financial Group dropped their target price on shares of Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Craig Hallum boosted 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Vita Coco currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Vita Coco Price Performance

COCO traded up $1.32 on Wednesday, reaching $36.80. 951,694 shares of the stock were exchanged, compared to its average volume of 620,717. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $36.84. The firm has a market capitalization of $2.09 billion, a PE ratio of 35.84, a PEG ratio of 2.22 and a beta of 0.22. The company's 50-day moving average price is $30.27 and its 200 day moving average price is $28.03.

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, beating analysts' consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million for the quarter, compared to analysts' expectations of $138.56 million. During the same quarter last year, the company earned $0.26 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 905 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares of the company's stock, valued at $3,703,932. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the sale, the chief executive officer now owns 452,452 shares of the company's stock, valued at $16,220,404.20. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,425 shares of company stock worth $1,669,873 over the last ninety days. Corporate insiders own 34.20% of the company's stock.

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.