Harbor Capital Advisors Inc. Sells 179,583 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Harbor Capital Advisors Inc. reduced its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 52.6% during the 4th quarter, Holdings Channel reports. The fund owned 161,923 shares of the company’s stock after selling 179,583 shares during the period. Harbor Capital Advisors Inc.’s holdings in Vita Coco were worth $5,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Quest Partners LLC grew its holdings in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. ProShare Advisors LLC bought a new position in Vita Coco during the 2nd quarter worth $141,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after buying an additional 1,434 shares during the period. Finally, LVW Advisors LLC acquired a new stake in shares of Vita Coco during the third quarter worth $209,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.35, for a total transaction of $176,750.00. Following the transaction, the chief executive officer now directly owns 447,452 shares in the company, valued at approximately $15,817,428.20. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the sale, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,929 shares of company stock worth $5,324,683. Company insiders own 34.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on COCO. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company raised 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. Finally, Craig Hallum increased their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

Vita Coco Stock Down 1.2 %

Shares of Vita Coco stock opened at $33.58 on Friday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $37.88. The company’s fifty day moving average is $35.63 and its 200 day moving average is $30.18.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. The company had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal 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.