Raymond James Financial Services Advisors Inc. Sells 1,346 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James Financial Services Advisors Inc. reduced its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,605 shares of the company’s stock after selling 1,346 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Vita Coco were worth $298,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of COCO. Headinvest LLC bought a new position in shares of Vita Coco in the third quarter valued at about $29,000. Federated Hermes Inc. raised its position in shares of Vita Coco by 1,237.2% in the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock valued at $167,000 after purchasing an additional 5,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Vita Coco by 95.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock valued at $202,000 after purchasing an additional 3,776 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Vita Coco in the third quarter valued at about $227,000. Finally, Arizona State Retirement System acquired a new position in shares of Vita Coco in the third quarter valued at about $230,000. 88.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research note on Thursday, February 29th. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. The Goldman Sachs Group decreased their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. William Blair downgraded shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Piper Sandler upped their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.71.

Insider Activity

In other news, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ira Liran sold 13,998 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the sale, the director now directly owns 645,942 shares in the company, valued at approximately $16,161,468.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,353 shares of company stock worth $1,309,536. Corporate insiders own 51.10% of the company’s stock.

Vita Coco Stock Down 1.3 %

Shares of Vita Coco stock opened at $23.08 on Tuesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.87 and a beta of 0.16. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $33.29. The firm’s 50-day moving average price is $24.12 and its two-hundred day moving average price is $25.10.

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

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.