Intech Investment Management LLC Sells 9,142 Shares of Vita Coco Company, Inc. $COCO

Intech Investment Management LLC trimmed its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 40.2% during the third quarter, HoldingsChannel reports. The fund owned 13,614 shares of the company’s stock after selling 9,142 shares during the period. Intech Investment Management LLC’s holdings in Vita Coco were worth $578,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC increased its holdings in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares in the last quarter. MAI Capital Management bought a new stake in shares of Vita Coco in the second quarter valued at about $33,000. Mather Group LLC. acquired a new position in shares of Vita Coco during the third quarter worth about $54,000. EverSource Wealth Advisors LLC boosted its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of Vita Coco during the third quarter worth about $93,000. 88.49% of the stock is owned by institutional investors.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $54.91 on Wednesday. The stock has a 50 day moving average price of $54.64 and a 200 day moving average price of $48.07. The stock has a market capitalization of $3.13 billion, a PE ratio of 46.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $59.88.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COCO shares. Jefferies Financial Group lifted their target price on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Evercore reaffirmed an “outperform” rating and set a $58.00 price target on shares of Vita Coco in a research note on Thursday, February 19th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday, February 21st. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.88.

Insider Activity

In related news, CMO Jane Prior sold 50,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the transaction, the chief marketing officer directly owned 127,399 shares in the company, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the sale, the director directly owned 572,579 shares in the company, valued at $32,436,600.35. This trade 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 122,800 shares of company stock valued at $6,698,956 over the last three months. Corporate insiders own 34.20% of the company’s stock.

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.