LVW Advisors LLC Invests $209,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

LVW Advisors LLC bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,370 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Vita Coco during the 3rd quarter valued at about $346,000. Driehaus Capital Management LLC purchased a new position in Vita Coco during the second quarter valued at approximately $9,859,000. The Manufacturers Life Insurance Company lifted its holdings in Vita Coco by 29.0% in the second quarter. The Manufacturers Life Insurance Company now owns 22,392 shares of the company’s stock valued at $624,000 after acquiring an additional 5,038 shares during the period. AQR Capital Management LLC boosted its position 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 purchasing an additional 4,234 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Vita Coco during the 2nd quarter worth approximately $661,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Trading Down 0.0 %

NASDAQ:COCO opened at $28.25 on Friday. The stock has a 50 day moving average of $26.74 and a two-hundred day moving average of $26.62. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $31.42. The firm has a market cap of $1.60 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, research analysts forecast that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Jefferies Financial Group dropped their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Bank of America raised their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $30.17.

Insider Activity

In related news, COO Jonathan Burth sold 2,244 shares of the company’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 completion of the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 34.20% of the company’s stock.

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.