Wellington Management Group LLP Buys Shares of 92,588 The Vita Coco Company, Inc. (NASDAQ:COCO)

Wellington Management Group LLP bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 92,588 shares of the company’s stock, valued at approximately $2,621,000.

A number of other hedge funds have also recently made changes to their positions in COCO. nVerses Capital LLC raised its stake in Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after buying an additional 1,900 shares during the last quarter. Quest Partners LLC raised its position in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. ProShare Advisors LLC bought a new position in Vita Coco in the 2nd quarter worth about $141,000. 1620 Investment Advisors Inc. purchased a new stake in Vita Coco during the 2nd quarter valued at about $150,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after buying an additional 1,434 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Vita Coco Trading Down 1.7 %

Shares of COCO stock opened at $36.19 on Wednesday. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $37.88. The stock has a market capitalization of $2.05 billion, a P/E ratio of 36.56, a P/E/G ratio of 2.42 and a beta of 0.31. The firm’s 50 day moving average is $33.31 and its 200 day moving average is $29.31.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on COCO. Bank of America increased their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report 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 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, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Insider Activity

In other news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,261 shares of company stock valued at $4,108,549 in the last quarter. 34.20% of the stock is currently owned by insiders.

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.