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

Loomis Sayles & Co. L P trimmed its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,579 shares of the company’s stock after selling 27,926 shares during the period. Loomis Sayles & Co. L P’s holdings in Vita Coco were worth $34,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. DRW Securities LLC bought a new stake in Vita Coco in the 3rd quarter valued at approximately $366,000. Charles Schwab Investment Management Inc. grew its stake in shares of Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock worth $9,174,000 after acquiring an additional 57,622 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $256,000. Moran Wealth Management LLC boosted its holdings in Vita Coco by 43.5% during the third quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock worth $515,000 after purchasing an additional 5,517 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Vita Coco in the third quarter valued at $1,145,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price target 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Vita Coco Price Performance

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

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares in the company, valued at $16,220,404.20. This trade represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. The trade was a 2.98 % 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 over the last three months. Insiders own 34.20% of the company’s stock.

Vita Coco Company Profile

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.