Commerce Bank Sells 325 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Commerce Bank lowered its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 9,315 shares of the company’s stock after selling 325 shares during the quarter. Commerce Bank’s holdings in Vita Coco were worth $264,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COCO. nVerses Capital LLC boosted its stake in Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC lifted its stake in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares during the period. Comerica Bank raised its holdings in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after purchasing an additional 3,675 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Vita Coco during the second quarter worth $141,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Stock Performance

Vita Coco stock opened at $35.62 on Thursday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.05. The company’s 50 day simple moving average is $31.33 and its 200-day simple moving average is $28.43. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. During the same period in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the sale, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,313 shares of company stock worth $1,992,268 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Vita Coco Profile

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.