D. E. Shaw & Co. Inc. Sells 129,573 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

D. E. Shaw & Co. Inc. cut its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 9.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,291,926 shares of the company’s stock after selling 129,573 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Vita Coco were worth $35,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COCO. AQR Capital Management LLC raised its holdings in Vita Coco by 5.3% in the 2nd quarter. AQR Capital Management LLC now owns 84,475 shares of the company’s stock worth $2,353,000 after acquiring an additional 4,234 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Vita Coco in the 2nd quarter worth $661,000. ProShare Advisors LLC purchased a new position in shares of Vita Coco in the second quarter worth $141,000. Sei Investments Co. raised its stake in shares of Vita Coco by 134.0% in the second quarter. Sei Investments Co. now owns 78,330 shares of the company’s stock worth $2,181,000 after purchasing an additional 44,853 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Vita Coco by 10.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 57,500 shares of the company’s stock valued at $1,601,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Vita Coco news, insider Es Charles Van sold 4,372 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 97,668 shares of the company’s stock, valued at $2,930,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 34.20% of the stock is owned by insiders.

Vita Coco Stock Up 1.2 %

NASDAQ COCO opened at $29.49 on Friday. The company has a 50-day moving average price of $26.09 and a 200-day moving average price of $26.35. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $31.42. The firm has a market capitalization of $1.67 billion, a P/E ratio of 32.05, a PEG ratio of 2.53 and a beta of 0.22.

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

Vita Coco Profile

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.