GAMMA Investing LLC Has $859,000 Holdings in Vita Coco Company, Inc. (NASDAQ:COCO)

GAMMA Investing LLC raised its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 3,258.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,328 shares of the company’s stock after acquiring an additional 25,544 shares during the quarter. GAMMA Investing LLC’s holdings in Vita Coco were worth $859,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COCO. Wellington Management Group LLP boosted its position in Vita Coco by 173.2% during the fourth quarter. Wellington Management Group LLP now owns 252,941 shares of the company’s stock valued at $9,336,000 after purchasing an additional 160,353 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Vita Coco by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company’s stock valued at $6,111,000 after buying an additional 2,587 shares during the last quarter. Woodson Capital Management LP lifted its holdings in shares of Vita Coco by 4.5% during the 4th quarter. Woodson Capital Management LP now owns 709,615 shares of the company’s stock valued at $26,192,000 after buying an additional 30,553 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Vita Coco in the 4th quarter valued at approximately $323,000. Finally, Millennium Management LLC increased its holdings in Vita Coco by 24.9% in the fourth quarter. Millennium Management LLC now owns 25,515 shares of the company’s stock worth $942,000 after buying an additional 5,087 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

NASDAQ:COCO opened at $34.59 on Wednesday. Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The company has a fifty day moving average price of $33.62 and a 200 day moving average price of $34.69. The stock has a market cap of $1.96 billion, a P/E ratio of 34.25, a PEG ratio of 1.76 and a beta of 0.39.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. As a group, equities research analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling

In other news, Director John Zupo sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $34.77, for a total transaction of $278,160.00. Following the completion of the sale, the director now owns 8,876 shares of the company’s stock, valued at approximately $308,618.52. This trade represents a 47.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of Vita Coco stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the transaction, the insider now owns 7,097,161 shares of the company’s stock, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,808,762 shares of company stock valued at $130,549,579 over the last ninety days. 34.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Stephens reissued an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Wells Fargo & Company boosted their target price on Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the company a “buy” rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.