Invesco Ltd. Has $725,000 Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Invesco Ltd. decreased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 86.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,633 shares of the company’s stock after selling 120,876 shares during the quarter. Invesco Ltd.’s holdings in Vita Coco were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of COCO. Wells Fargo & Company MN increased its stake in Vita Coco by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 39,368 shares of the company’s stock valued at $1,453,000 after purchasing an additional 2,297 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Vita Coco by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 194,798 shares of the company’s stock worth $7,190,000 after acquiring an additional 8,565 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Vita Coco by 8.7% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 43,974 shares of the company’s stock worth $1,623,000 after acquiring an additional 3,536 shares during the last quarter. Wellington Management Group LLP lifted its position in Vita Coco by 173.2% in the 4th quarter. Wellington Management Group LLP now owns 252,941 shares of the company’s stock valued at $9,336,000 after acquiring an additional 160,353 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in Vita Coco in the 4th quarter valued at about $1,164,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COCO has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Stephens reiterated an “equal weight” rating and set a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Evercore ISI upped their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $34.21 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1 year low of $23.56 and a 1 year high of $40.32. The business has a fifty day moving average price of $32.11 and a two-hundred day moving average price of $34.31.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. Sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the completion of the transaction, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. This represents a 9.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at approximately $69,355,336.53. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is owned by company insiders.

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.