GW&K Investment Management LLC Sells 128,751 Shares of Vita Coco Company, Inc. $COCO

GW&K Investment Management LLC cut its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,681 shares of the company’s stock after selling 128,751 shares during the period. GW&K Investment Management LLC owned about 0.96% of Vita Coco worth $29,086,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares in the last quarter. CWM LLC raised its position in Vita Coco by 18.2% in the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the period. Mariner LLC raised its position in Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after acquiring an additional 236 shares during the period. Envestnet Asset Management Inc. raised its position in Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after acquiring an additional 298 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Vita Coco by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 14,303 shares of the company’s stock worth $758,000 after acquiring an additional 631 shares during the period. 88.49% of the stock is owned by institutional investors.

Vita Coco Stock Up 6.1%

Shares of NASDAQ:COCO opened at $78.74 on Thursday. The firm has a market capitalization of $4.50 billion, a PE ratio of 57.47, a P/E/G ratio of 1.78 and a beta of 0.74. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $79.70. The company has a 50-day moving average price of $63.69 and a two-hundred day moving average price of $57.57.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping 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 analyst estimates of $148.39 million. During the same quarter last year, the business earned $0.31 earnings per share. The company’s quarterly revenue was up 37.4% on a year-over-year basis. Analysts anticipate that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $68.00, for a total value of $3,400,000.00. Following the completion of the transaction, the chairman directly owned 515,681 shares of the company’s stock, valued at $35,066,308. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total transaction of $302,133.00. Following the completion of the transaction, the director directly owned 582,666 shares of the company’s stock, valued at approximately $45,139,135.02. The trade was a 0.66% 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 a total of 435,306 shares of company stock worth $26,054,832 in the last 90 days. 32.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on COCO. Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a research report on Thursday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company increased their price target on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

About Vita Coco

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.