11,895 Vita Coco Company, Inc. $COCO Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 14.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,699 shares of the company’s stock after selling 11,895 shares during the quarter. Summit Creek Advisors LLC’s holdings in Vita Coco were worth $3,876,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in shares of Vita Coco by 611.4% in the third quarter. Fortitude Family Office LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 538 shares in the last quarter. IFP Advisors Inc increased its position in Vita Coco by 210.4% during the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $46,000 after acquiring an additional 467 shares during the period. Signature Equity Partners LLC bought a new position in Vita Coco during the third quarter worth about $42,000. Rockefeller Capital Management L.P. raised its stake in Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after purchasing an additional 958 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in Vita Coco by 166,200.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,663 shares of the company’s stock worth $110,000 after purchasing an additional 1,662 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COCO shares. Oppenheimer started coverage on shares of Vita Coco in a report on Thursday, October 1st. They issued an “outperform” rating and a $70.00 price objective for the company. William Blair reaffirmed a “market perform” rating on shares of Vita Coco in a report on Thursday, October 22nd. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Piper Sandler lifted their price target on shares of Vita Coco from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Finally, Evercore reiterated an “outperform” rating on shares of Vita Coco in a research note on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.12.

Vita Coco Stock Performance

NASDAQ:COCO opened at $62.45 on Friday. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.60 and a beta of 0.76. Vita Coco Company, Inc. has a fifty-two week low of $40.62 and a fifty-two week high of $85.83. The stock has a fifty day moving average price of $57.33 and a 200-day moving average price of $61.82.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The company had revenue of $243.83 million for the quarter, compared to analysts’ expectations of $230.10 million. During the same quarter last year, the business earned $0.40 earnings per share. Vita Coco’s revenue was up 33.7% on a year-over-year basis. Research analysts predict that Vita Coco Company, Inc. will post 2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Corey Baker sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the sale, the chief financial officer owned 24,951 shares of the company’s stock, valued at $1,621,815. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is owned by corporate insiders.

Vita Coco Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.