Woodson Capital Management LP Buys Shares of 679,062 The Vita Coco Company, Inc. (NASDAQ:COCO)

Woodson Capital Management LP bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 679,062 shares of the company’s stock, valued at approximately $19,224,000. Vita Coco comprises approximately 3.8% of Woodson Capital Management LP’s portfolio, making the stock its 8th biggest position. Woodson Capital Management LP owned approximately 1.20% of Vita Coco as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after acquiring an additional 1,434 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Vita Coco during the 3rd quarter valued at approximately $366,000. Charles Schwab Investment Management Inc. lifted 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 valued at $9,174,000 after buying an additional 57,622 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Vita Coco during the 3rd quarter valued at approximately $256,000. Finally, Moran Wealth Management LLC lifted its stake in shares of Vita Coco by 43.5% during the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after buying an additional 5,517 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $35.62 on Friday. The company’s fifty day moving average price is $31.47 and its 200-day moving average price is $28.48. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 2.33 and a beta of 0.22. 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 released its earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter last year, the firm earned $0.26 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Activity at Vita Coco

In related news, CMO Jane Prior sold 3,888 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $37.01, for a total transaction of $143,894.88. Following the transaction, the chief marketing officer now owns 131,834 shares of the company’s stock, valued at approximately $4,879,176.34. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 2,244 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,313 shares of company stock valued at $1,992,268. Insiders own 34.20% of the company’s stock.

Vita Coco 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.