Orion Portfolio Solutions LLC Trims Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Orion Portfolio Solutions LLC lowered its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,716 shares of the company’s stock after selling 905 shares during the period. Orion Portfolio Solutions LLC’s holdings in Vita Coco were worth $303,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Vita Coco in the 3rd quarter worth $348,000. Wellington Management Group LLP acquired a new stake in Vita Coco in the third quarter worth about $2,621,000. Stansberry Asset Management LLC grew its stake in shares of Vita Coco by 2.2% during the third quarter. Stansberry Asset Management LLC now owns 452,212 shares of the company’s stock worth $12,802,000 after acquiring an additional 9,526 shares during the last quarter. State Street Corp increased its holdings in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company’s stock valued at $24,821,000 after acquiring an additional 39,431 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Vita Coco by 41.4% in the 3rd quarter. Stifel Financial Corp now owns 17,220 shares of the company’s stock valued at $487,000 after purchasing an additional 5,041 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity

In other news, COO Jonathan Burth sold 14,836 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.61, for a total value of $557,981.96. Following the completion of the sale, the chief operating officer now directly owns 105,417 shares in the company, valued at $3,964,733.37. This represents a 12.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the transaction, the chief financial officer now owns 44,346 shares in the company, valued at $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,173 shares of company stock worth $4,324,626 over the last quarter. 34.20% of the stock is currently owned by corporate insiders.

Vita Coco Stock Performance

NASDAQ:COCO opened at $35.64 on Friday. The company has a fifty day moving average of $33.77 and a two-hundred day moving average of $29.45. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The stock has a market capitalization of $2.02 billion, a PE ratio of 36.00, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share 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 analyst estimates of $138.56 million. During the same period last year, the company posted $0.26 EPS. Vita Coco’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

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

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.