Mirae Asset Global Investments Co. Ltd. Raises Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,126 shares of the company’s stock after purchasing an additional 638 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vita Coco were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in COCO. FMR LLC increased its holdings in Vita Coco by 72.3% in the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after buying an additional 1,000,408 shares in the last quarter. Vanguard Group Inc. increased its holdings in Vita Coco by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock valued at $50,910,000 after buying an additional 108,844 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Vita Coco by 41.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock valued at $27,151,000 after buying an additional 304,659 shares in the last quarter. 12 West Capital Management LP purchased a new position in Vita Coco in the third quarter valued at $9,114,000. Finally, JW Asset Management LLC purchased a new position in Vita Coco in the third quarter valued at $9,000,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Up 2.7 %

COCO opened at $24.75 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of 30.94, a PEG ratio of 1.93 and a beta of 0.16. The firm’s 50-day moving average price is $24.33 and its 200 day moving average price is $25.04. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company 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%. Vita Coco’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. As a group, analysts predict that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares in the company, valued at approximately $16,040,717.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares in the company, valued at approximately $16,040,717.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Liran sold 2,780 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 992,644 shares in the company, valued at $24,855,805.76. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock worth $1,309,536 in the last ninety days. 51.10% of the stock is owned by insiders.

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.