Verition Fund Management LLC Sells 10,693 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Verition Fund Management LLC lessened its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 58.2% in the third quarter, Holdings Channel.com reports. The fund owned 7,686 shares of the company’s stock after selling 10,693 shares during the period. Verition Fund Management LLC’s holdings in Vita Coco were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COCO. Captrust Financial Advisors increased its position in Vita Coco by 7.2% during the 3rd quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock valued at $603,000 after purchasing an additional 1,433 shares during the period. Woodson Capital Management LP bought a new stake in shares of Vita Coco during the 3rd quarter valued at about $19,224,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Vita Coco by 25.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares during the period. DRW Securities LLC bought a new position in Vita Coco in the third quarter worth about $366,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Vita Coco by 21.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock worth $9,174,000 after buying an additional 57,622 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

COCO has been the topic of a number of research analyst reports. Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.07, for a total transaction of $175,350.00. Following the transaction, the chief executive officer now owns 437,152 shares in the company, valued at approximately $15,330,920.64. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the sale, the chief operating officer now directly owns 124,605 shares in the company, valued at approximately $3,739,396.05. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,425 shares of company stock worth $3,550,567. Insiders own 34.20% of the company’s stock.

Vita Coco Stock Performance

Shares of COCO stock opened at $36.72 on Monday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $37.88. The company’s 50-day moving average is $33.12 and its 200 day moving average is $29.25.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts predict 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.