11,895 Vita Coco Company, Inc. $COCO Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC trimmed its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,699 shares of the company’s stock after selling 11,895 shares during the period. Summit Creek Advisors LLC owned about 0.12% of Vita Coco worth $3,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Vita Coco in the 2nd quarter valued at about $463,654,000. Congress Asset Management Co. lifted its stake in Vita Coco by 2.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company’s stock valued at $71,015,000 after purchasing an additional 33,219 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Vita Coco by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock worth $51,422,000 after purchasing an additional 61,950 shares during the period. Bank of America Corp DE bought a new position in Vita Coco during the second quarter worth about $56,722,000. Finally, Principal Financial Group Inc. grew its holdings in Vita Coco by 146.7% during the first quarter. Principal Financial Group Inc. now owns 406,719 shares of the company’s stock worth $19,486,000 after purchasing an additional 241,836 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COCO. Piper Sandler upped their price objective on Vita Coco from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Morgan Stanley raised their price objective on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings lowered Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company decreased their target price on Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.12.

Vita Coco Stock Performance

Shares of COCO stock opened at $62.45 on Friday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.60 and a beta of 0.76. The company has a 50-day simple moving average of $57.33 and a 200 day simple moving average of $61.82. Vita Coco Company, Inc. has a 52 week low of $40.62 and a 52 week high of $85.83.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $243.83 million for the quarter, compared to analyst estimates of $230.10 million. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. Vita Coco’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. Sell-side analysts forecast that Vita Coco Company, Inc. will post 2.06 EPS for the current year.

Insider Activity

In other news, CFO Corey Baker sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the sale, the chief financial officer owned 24,951 shares in the company, valued at $1,621,815. The trade was a 16.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is currently owned by corporate insiders.

Vita Coco Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.