E Fund Management Hong Kong Co. Ltd. Purchases New Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

E Fund Management Hong Kong Co. Ltd. purchased a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,421 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COCO. Wasatch Advisors LP increased its holdings in shares of Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $19,224,000. Victory Capital Management Inc. increased its holdings in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Vita Coco in the second quarter valued at approximately $9,859,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the transaction, the director now owns 883,729 shares in the company, valued at approximately $31,849,593.16. This represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 912 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $37.53, for a total transaction of $34,227.36. Following the completion of the transaction, the chief operating officer now owns 104,108 shares in the company, valued at approximately $3,907,173.24. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,276 shares of company stock worth $5,395,796 in the last ninety days. Insiders own 34.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on COCO. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Craig Hallum lifted 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. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.14.

Vita Coco Price Performance

Vita Coco stock opened at $38.65 on Monday. The firm has a market capitalization of $2.19 billion, a PE ratio of 39.04, a P/E/G ratio of 2.25 and a beta of 0.31. The company’s 50-day moving average is $35.81 and its 200-day moving average is $30.74. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $38.91.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analyst estimates 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. As a group, analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

About Vita Coco

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.