TT International Asset Management LTD Sells 55,372 Shares of Vita Coco Company, Inc. $COCO

TT International Asset Management LTD decreased its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 46.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 64,802 shares of the company’s stock after selling 55,372 shares during the quarter. Vita Coco makes up approximately 0.4% of TT International Asset Management LTD’s investment portfolio, making the stock its 18th biggest position. TT International Asset Management LTD’s holdings in Vita Coco were worth $2,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MAI Capital Management bought a new stake in shares of Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the period. Ameritas Advisory Services LLC bought a new stake in Vita Coco during the 2nd quarter worth about $50,000. Militia Capital Partners LP lifted its position in Vita Coco by 60.0% during the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock valued at $98,000 after purchasing an additional 1,200 shares during the period. Finally, Amitell Capital Pte Ltd bought a new position in shares of Vita Coco in the 2nd quarter valued at about $114,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the sale, the director directly owned 692,579 shares in the company, valued at approximately $29,088,318. This trade represents a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $40.77, for a total transaction of $122,310,000.00. Following the completion of the transaction, the insider directly owned 4,097,161 shares in the company, valued at approximately $167,041,253.97. The trade was a 42.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,629,647 shares of company stock worth $150,251,168. Company insiders own 34.20% of the company’s stock.

Vita Coco Stock Down 1.0%

COCO opened at $54.03 on Tuesday. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $55.29. The company has a fifty day simple moving average of $45.99 and a 200 day simple moving average of $40.01. The stock has a market cap of $3.08 billion, a P/E ratio of 46.98, a P/E/G ratio of 1.82 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The firm had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 37.2% on a year-over-year basis. On average, equities research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COCO shares. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Piper Sandler upped their target price on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Jefferies Financial Group increased their price target on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Morgan Stanley lifted their price objective on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Evercore ISI upped their price objective on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.88.

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.