Woodson Capital Management LP Buys Shares of 679,062 The Vita Coco Company, Inc. (NASDAQ:COCO)

Woodson Capital Management LP bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 679,062 shares of the company's stock, valued at approximately $19,224,000. Vita Coco accounts for 3.8% of Woodson Capital Management LP's investment portfolio, making the stock its 8th biggest position. Woodson Capital Management LP owned 1.20% of Vita Coco as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COCO. Victory Capital Management Inc. lifted its position in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock worth $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Vita Coco in the 2nd quarter valued at approximately $9,859,000. Vanguard Group Inc. increased its holdings in shares of Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company's stock valued at $58,032,000 after purchasing an additional 230,991 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after purchasing an additional 200,940 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in shares of Vita Coco by 123.3% during the second quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company's stock worth $9,487,000 after purchasing an additional 188,060 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 905 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 directly owns 123,300 shares of the company's stock, valued at approximately $3,703,932. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 452,452 shares in the company, valued at approximately $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 56,313 shares of company stock valued at $1,992,268 over the last 90 days. 34.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Craig Hallum upped their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.00.

Vita Coco Stock Performance

COCO stock traded down $0.08 on Friday, reaching $35.54. The company had a trading volume of 162,257 shares, compared to its average volume of 612,310. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.05. The company's fifty day moving average is $31.47 and its 200 day moving average is $28.48. The company has a market cap of $2.02 billion, a P/E ratio of 35.98, a PEG ratio of 2.33 and a beta of 0.22.

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, beating analysts' consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. On average, sell-side analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

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.