California State Teachers Retirement System Cuts Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

California State Teachers Retirement System reduced its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,130 shares of the company’s stock after selling 356 shares during the period. California State Teachers Retirement System owned about 0.07% of Vita Coco worth $1,370,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC increased its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco during the fourth quarter worth approximately $66,000. Summit Investment Advisors Inc. increased its stake in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after buying an additional 347 shares during the period. IHT Wealth Management LLC purchased a new stake in shares of Vita Coco during the fourth quarter worth approximately $216,000. Finally, Entropy Technologies LP purchased a new stake in shares of Vita Coco during the fourth quarter worth approximately $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. This trade represents a 34.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the sale, the chairman now owns 1,689,049 shares of the company’s stock, valued at approximately $59,218,057.94. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,854,762 shares of company stock worth $132,152,179 in the last three months. 32.30% of the stock is currently owned by insiders.

Vita Coco Price Performance

NASDAQ:COCO opened at $34.25 on Monday. The firm has a market capitalization of $1.94 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32. The business’s 50-day moving average is $32.94 and its two-hundred day moving average is $34.79.

Vita Coco (NASDAQ:COCO) last announced its earnings results 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 for the quarter, compared to analyst estimates of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. Equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday. Stephens reiterated an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a “buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on shares of Vita Coco from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Finally, Evercore ISI increased their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $35.88.

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.