GW&K Investment Management LLC Sells 128,751 Shares of Vita Coco Company, Inc. $COCO

GW&K Investment Management LLC reduced its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,681 shares of the company’s stock after selling 128,751 shares during the quarter. GW&K Investment Management LLC’s holdings in Vita Coco were worth $29,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC grew its stake in Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 675 shares in the last quarter. Quarry LP lifted its holdings in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after acquiring an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after acquiring an additional 227 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Up 6.1%

NASDAQ COCO opened at $78.74 on Thursday. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $79.70. The stock has a 50-day moving average of $63.69 and a 200-day moving average of $57.57. The firm has a market cap of $4.50 billion, a PE ratio of 57.47, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company’s revenue was up 37.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. As a group, equities research analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on COCO. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.43.

Insiders Place Their Bets

In other Vita Coco news, insider Es Charles Van sold 8,045 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total value of $603,777.25. Following the sale, the insider owned 59,085 shares of the company’s stock, valued at $4,434,329.25. This trade represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $77.47, for a total transaction of $302,133.00. Following the completion of the sale, the director directly owned 582,666 shares in the company, valued at approximately $45,139,135.02. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 435,306 shares of company stock worth $26,054,832. 32.30% of the stock is currently owned by insiders.

Vita Coco Company 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.