Simplicity Solutions LLC Increases Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Simplicity Solutions LLC grew its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 54.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,829 shares of the company’s stock after purchasing an additional 6,295 shares during the period. Simplicity Solutions LLC’s holdings in Vita Coco were worth $457,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COCO. JPMorgan Chase & Co. lifted its holdings in Vita Coco by 25.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after buying an additional 1,062 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Vita Coco by 77.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 33,275 shares of the company’s stock worth $298,000 after buying an additional 14,549 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Vita Coco by 74.4% during the 1st quarter. Bank of New York Mellon Corp now owns 37,913 shares of the company’s stock worth $340,000 after buying an additional 16,180 shares during the last quarter. Rhumbline Advisers purchased a new stake in Vita Coco during the 1st quarter worth about $96,000. Finally, BlackRock Inc. lifted its holdings in shares of Vita Coco by 9.4% in the 1st quarter. BlackRock Inc. now owns 729,130 shares of the company’s stock valued at $6,532,000 after purchasing an additional 62,355 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Down 0.7 %

COCO opened at $23.26 on Friday. The business has a 50 day moving average price of $23.95 and a two-hundred day moving average price of $25.19. The company has a market cap of $1.32 billion, a PE ratio of 29.08, a P/E/G ratio of 1.91 and a beta of 0.16. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $106.10 million during the quarter, compared to the consensus estimate of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. As a group, sell-side analysts expect that The Vita Coco Company, Inc. will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Liran sold 6,915 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the transaction, the director now owns 985,729 shares in the company, valued at approximately $24,643,225. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock valued at $1,309,536 in the last ninety days. Insiders own 51.10% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a report on Thursday, February 29th. Piper Sandler boosted their target price on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.71.

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.