AMI Asset Management Corp Sells 2,604 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

AMI Asset Management Corp decreased its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 3.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 66,137 shares of the company’s stock after selling 2,604 shares during the quarter. AMI Asset Management Corp’s holdings in Vita Coco were worth $2,441,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COCO. West Coast Financial LLC lifted its stake in Vita Coco by 1.2% during the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock valued at $3,390,000 after acquiring an additional 1,109 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after purchasing an additional 80,128 shares in the last quarter. TT International Asset Management LTD boosted its holdings in Vita Coco by 1,643.7% during the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after purchasing an additional 170,797 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity

In related news, COO Jonathan Burth sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $30.04, for a total transaction of $42,056.00. Following the sale, the chief operating officer now owns 121,900 shares of the company’s stock, valued at approximately $3,661,876. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Corey Baker sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 146,624 shares of company stock worth $5,285,497. 34.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COCO has been the topic of a number of research analyst reports. Craig Hallum boosted 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. Wells Fargo & Company boosted their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.14.

Vita Coco Price Performance

NASDAQ:COCO opened at $34.60 on Tuesday. The company has a market capitalization of $1.96 billion, a P/E ratio of 34.95, a P/E/G ratio of 2.08 and a beta of 0.31. The business has a fifty day simple moving average of $35.54 and a two-hundred day simple moving average of $30.49. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.88.

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

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.