The Vita Coco Company, Inc. (NASDAQ:COCO) Position Reduced by AMI Asset Management Corp

AMI Asset Management Corp lowered its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 5.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 68,741 shares of the company’s stock after selling 4,136 shares during the period. AMI Asset Management Corp’s holdings in Vita Coco were worth $1,946,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. nVerses Capital LLC increased its holdings in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after buying an additional 1,900 shares during the last quarter. CWM LLC raised its stake in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares during the period. Finally, Comerica Bank increased its stake in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COCO shares. Wells Fargo & Company increased their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America increased their price target on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group dropped their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $28.00 in a report on Friday, July 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $30.17.

Vita Coco Stock Up 7.2 %

Shares of NASDAQ:COCO opened at $33.00 on Wednesday. The company has a market cap of $1.87 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The company’s fifty day moving average is $27.66 and its two-hundred day moving average is $27.01. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $33.00.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same period in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 905 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at $3,703,932. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 3,549 shares of company stock valued at $106,529. Corporate 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.