Champlain Investment Partners LLC Has $31.81 Million Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Champlain Investment Partners LLC trimmed its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,123,650 shares of the company’s stock after selling 139,290 shares during the quarter. Champlain Investment Partners LLC owned 1.98% of Vita Coco worth $31,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Raymond James & Associates bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $3,990,000. American Century Companies Inc. grew its position in Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after acquiring an additional 23,761 shares during the period. Pier Capital LLC raised its stake in Vita Coco by 37.7% during the second quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock worth $8,134,000 after acquiring an additional 79,957 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings 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 valued at $25,358,000 after acquiring an additional 461,748 shares during the period. 88.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum boosted their target price 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. Three research 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 an average price target of $31.00.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the transaction, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction 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 sale, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,425 shares of company stock valued at $1,669,873 over the last 90 days. 34.20% of the stock is owned by company insiders.

Vita Coco Trading Down 1.4 %

COCO opened at $36.12 on Friday. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.05. The stock has a market capitalization of $2.05 billion, a PE ratio of 36.48, a PEG ratio of 2.39 and a beta of 0.22. The firm has a 50-day moving average price of $30.85 and a two-hundred day moving average price of $28.22.

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 analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. On average, research analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current 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.