Loomis Sayles & Co. L P Sells 27,926 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

by · The Markets Daily

Loomis Sayles & Co. L P cut its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,228,579 shares of the company’s stock after selling 27,926 shares during the quarter. Loomis Sayles & Co. L P owned approximately 2.17% of Vita Coco worth $34,781,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC boosted its holdings in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC boosted its stake in Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after purchasing an additional 787 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. Comerica Bank lifted its position in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after buying an additional 3,675 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Vita Coco during the second quarter worth approximately $141,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Performance

COCO opened at $36.34 on Tuesday. The company has a fifty day moving average price of $30.85 and a two-hundred day moving average price of $28.25. The firm has a market capitalization of $2.06 billion, a PE ratio of 36.48, a P/E/G ratio of 2.36 and a beta of 0.22. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $37.05.

Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum boosted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Read Our Latest Stock Report on Vita Coco

Insider Activity

In other news, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Jane Prior sold 3,888 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $37.01, for a total value of $143,894.88. Following the sale, the chief marketing officer now directly owns 131,834 shares in the company, valued at $4,879,176.34. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,313 shares of company stock valued at $1,813,768 in the last ninety days. 34.20% of the stock is owned by insiders.

Vita Coco Company Profile

(Free Report)

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.

Further Reading

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