The Vita Coco Company, Inc. (NASDAQ:COCO) Stake Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 21.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 324,041 shares of the company’s stock after acquiring an additional 57,622 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Vita Coco were worth $9,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC raised its position in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the period. CWM LLC boosted its stake in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. Comerica Bank boosted its stake in shares of Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after acquiring an additional 3,675 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Vita Coco during the 2nd quarter worth about $141,000. 88.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the transaction, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This represents a 0.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the completion of the transaction, the chief executive officer now directly owns 372,152 shares of the company’s stock, valued at approximately $13,390,028.96. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,951 shares of company stock worth $3,201,769. 34.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COCO shares. Bank of America upped their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Vita Coco Trading Up 0.2 %

Shares of COCO stock opened at $36.35 on Wednesday. The stock has a 50 day moving average of $32.62 and a two-hundred day moving average of $29.04. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $37.20. The company has a market capitalization of $2.06 billion, a P/E ratio of 36.72, a P/E/G ratio of 2.37 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same quarter last year, the company earned $0.26 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Vita Coco Company 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.