Raymond James & Associates Purchases New Shares in The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James & Associates acquired a new position in The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 31,026 shares of the company’s stock, valued at approximately $796,000.

A number of other institutional investors have also recently bought and sold shares of the business. Headinvest LLC bought a new stake in shares of Vita Coco during the 3rd quarter valued at $29,000. Federated Hermes Inc. raised its stake in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vita Coco by 95.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after purchasing an additional 3,776 shares during the period. D.A. Davidson & CO. acquired a new stake in Vita Coco during the third quarter worth about $227,000. Finally, Arizona State Retirement System bought a new position in Vita Coco in the 3rd quarter valued at about $230,000. Institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction dated 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 directly owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Vita Coco 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 transaction of $480,141.98. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 2,780 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the completion of the sale, the director now directly owns 992,644 shares in the company, valued at $24,855,805.76. The disclosure for this sale can be found here. Insiders sold 52,353 shares of company stock worth $1,309,536 over the last three months. Company insiders own 51.10% of the company’s stock.

Vita Coco Trading Up 2.3 %

NASDAQ:COCO opened at $23.61 on Wednesday. The stock’s 50-day moving average is $24.18 and its 200-day moving average is $25.08. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $33.29. The stock has a market cap of $1.34 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 1.87 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share 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 analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

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

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.