Franklin Resources Inc. Cuts Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Franklin Resources Inc. lessened its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 75.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,233 shares of the company's stock after selling 565,842 shares during the quarter. Franklin Resources Inc. owned 0.33% of Vita Coco worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC increased its holdings 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 valued at $72,000 after purchasing an additional 1,900 shares in the last quarter. Quest Partners LLC grew its position in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after buying an additional 3,473 shares during the period. ProShare Advisors LLC purchased a new position in Vita Coco in the second quarter valued at about $141,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock valued at $199,000 after acquiring an additional 1,434 shares during the period. Finally, LVW Advisors LLC purchased a new stake in shares of Vita Coco during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Trading Down 0.2 %

Shares of NASDAQ COCO traded down $0.08 during trading on Tuesday, reaching $35.97. The company had a trading volume of 169,932 shares, compared to its average volume of 599,728. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $37.88. The stock has a 50-day moving average price of $34.06 and a two-hundred day moving average price of $29.57. The stock has a market capitalization of $2.04 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating 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 firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same quarter in the previous year, the company posted $0.26 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Craig Hallum raised their price target on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Vita Coco presently has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Insider Activity at Vita Coco

In related news, CFO Corey Baker sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the transaction, the chief financial officer now owns 44,346 shares of the company's stock, valued at approximately $1,653,218.88. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,173 shares of company stock valued at $5,392,026. Company insiders own 34.20% of the company's stock.

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.