Vita Coco Company, Inc. $COCO Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC trimmed its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 677,432 shares of the company’s stock after selling 18,811 shares during the quarter. GW&K Investment Management LLC’s holdings in Vita Coco were worth $28,771,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in COCO. Vanguard Group Inc. increased its position in Vita Coco by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock worth $123,676,000 after purchasing an additional 97,233 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Vita Coco by 12.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock worth $88,054,000 after purchasing an additional 224,305 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco during the third quarter worth about $62,815,000. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco in the third quarter valued at approximately $45,135,000. Finally, Geode Capital Management LLC lifted its stake in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock valued at $36,759,000 after buying an additional 28,448 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $53.00 on Friday. The business has a 50-day moving average of $54.69 and a two-hundred day moving average of $47.52. The firm has a market capitalization of $3.03 billion, a PE ratio of 44.92, a P/E/G ratio of 1.74 and a beta of 0.37. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $59.88.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same period last year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total transaction of $808,650.00. Following the completion of the sale, the director directly owned 17,179 shares of the company’s stock, valued at approximately $926,119.89. This represents a 46.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $56.65, for a total value of $1,699,500.00. Following the completion of the sale, the director owned 572,579 shares of the company’s stock, valued at approximately $32,436,600.35. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 72,800 shares of company stock worth $4,052,956 over the last ninety days. 32.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on COCO shares. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday, February 21st. Wells Fargo & Company lifted their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Jefferies Financial Group increased their target price on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $54.00 in a report on Monday, November 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Vita Coco Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.