Summit Creek Advisors LLC Has $13.14 Million Holdings in Vita Coco Company, Inc. $COCO

Summit Creek Advisors LLC lessened its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 17.8% during the fourth quarter, HoldingsChannel reports. The fund owned 247,920 shares of the company’s stock after selling 53,610 shares during the quarter. Vita Coco accounts for about 2.1% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Summit Creek Advisors LLC’s holdings in Vita Coco were worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP acquired a new stake in shares of Vita Coco in the 3rd quarter worth about $45,135,000. New York State Common Retirement Fund raised its holdings in shares of Vita Coco by 10.3% in the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock worth $21,703,000 after acquiring an additional 47,632 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Vita Coco in the 3rd quarter worth about $2,230,000. Vanguard Group Inc. raised its holdings in shares of Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after acquiring an additional 237,510 shares during the last quarter. Finally, Night Squared LP acquired a new stake in shares of Vita Coco in the 3rd quarter worth about $5,193,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 60,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $58.65, for a total transaction of $3,519,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,396,421.50. This represents a 50.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Kirban sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the transaction, the chairman directly owned 515,681 shares of the company’s stock, valued at $35,066,308. This represents a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 488,361 shares of company stock valued at $28,603,572 over the last quarter. 32.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on COCO. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Vita Coco Stock Up 1.9%

Vita Coco stock opened at $77.88 on Thursday. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $79.70. The firm has a 50 day moving average price of $57.34 and a 200-day moving average price of $54.11. The company has a market capitalization of $4.45 billion, a P/E ratio of 56.85, a P/E/G ratio of 1.83 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 37.4% compared to the same quarter last year. Equities analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.