Rhumbline Advisers Buys 7,583 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Rhumbline Advisers lifted its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,654 shares of the company’s stock after purchasing an additional 7,583 shares during the quarter. Rhumbline Advisers owned 0.10% of Vita Coco worth $1,522,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Vita Coco by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,598 shares of the company’s stock worth $6,069,000 after buying an additional 5,406 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Vita Coco in the 4th quarter valued at about $487,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Vita Coco during the 4th quarter valued at about $60,000. D.A. Davidson & CO. grew its holdings in shares of Vita Coco by 203.3% during the fourth quarter. D.A. Davidson & CO. now owns 26,490 shares of the company’s stock worth $679,000 after purchasing an additional 17,755 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in shares of Vita Coco by 103.3% during the fourth quarter. Trexquant Investment LP now owns 146,570 shares of the company’s stock worth $3,760,000 after purchasing an additional 74,457 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

In other Vita Coco news, insider Es Charles Van sold 4,372 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the transaction, the insider now owns 97,668 shares of the company’s stock, valued at $2,930,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 34.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COCO. Wells Fargo & Company raised their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Bank of America raised their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group cut their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.17.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $28.49 on Friday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42. The stock has a market capitalization of $1.61 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.30 and a beta of 0.22. The company’s 50-day moving average is $25.91 and its 200 day moving average is $26.24.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $144.08 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts anticipate that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current 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.