E Fund Management Hong Kong Co. Ltd. Makes New Investment in The Vita Coco Company, Inc. (NASDAQ:COCO)

E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,421 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COCO. Wasatch Advisors LP lifted its stake in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after purchasing an additional 1,799,168 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Vita Coco by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after buying an additional 101,823 shares during the period. Victory Capital Management Inc. increased its position in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares during the period. State Street Corp grew its holdings in Vita Coco by 4.7% in the third quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after purchasing an additional 39,431 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Vita Coco by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after purchasing an additional 156,033 shares during the period. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COCO. Craig Hallum raised their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their price objective on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.14.

Vita Coco Price Performance

COCO opened at $38.65 on Monday. The company’s 50-day moving average is $35.81 and its 200 day moving average is $30.74. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $38.91. The firm has a market capitalization of $2.19 billion, a P/E ratio of 39.04, a PEG ratio of 2.25 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share 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 analyst estimates of $138.56 million. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the sale, the director now owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total transaction of $152,355.20. Following the completion of the sale, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $3,914,460.80. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,276 shares of company stock valued at $5,395,796 over the last ninety days. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Company 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.