The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC cut its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 56.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 905 shares of the company’s stock after selling 1,195 shares during the period. Tower Research Capital LLC TRC’s holdings in Vita Coco were worth $33,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COCO. GAMMA Investing LLC increased its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Vita Coco in the fourth quarter worth about $52,000. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco in the fourth quarter worth approximately $66,000. Summit Investment Advisors Inc. raised its holdings in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after acquiring an additional 347 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Vita Coco during the fourth quarter valued at approximately $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vita Coco

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the transaction, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Liran sold 20,235 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the sale, the director now directly owns 814,302 shares of the company’s stock, valued at $32,629,081.14. This represents a 2.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,853,420 shares of company stock valued at $132,127,204. 32.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on COCO. Evercore ISI raised their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Vita Coco Stock Up 2.5%

Vita Coco stock opened at $33.99 on Thursday. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32. The stock has a market cap of $1.93 billion, a P/E ratio of 34.33, a P/E/G ratio of 2.25 and a beta of 0.38. The company’s fifty day simple moving average is $32.31 and its 200-day simple moving average is $34.58.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.