The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,582 shares of the company’s stock after selling 823 shares during the period. Federated Hermes Inc.’s holdings in Vita Coco were worth $143,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Vita Coco in the 3rd quarter worth $324,000. Raymond James Financial Services Advisors Inc. acquired a new position in Vita Coco during the third quarter valued at approximately $337,000. 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 valued at $202,000 after buying an additional 3,776 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Vita Coco by 31.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 94,610 shares of the company’s stock worth $2,464,000 after buying an additional 22,549 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Vita Coco in the third quarter worth $724,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Ira Liran sold 6,915 shares of Vita Coco 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 completion of the transaction, the director now directly owns 985,729 shares in the company, valued at $24,643,225. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Ira Liran sold 6,915 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total transaction of $172,875.00. Following the completion of the transaction, the director now owns 985,729 shares of the company’s stock, valued at $24,643,225. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the sale, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. 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. 51.10% of the stock is currently owned by insiders.

Vita Coco Stock Performance

COCO opened at $26.51 on Monday. The company has a market capitalization of $1.50 billion, a P/E ratio of 28.82, a PEG ratio of 2.01 and a beta of 0.18. The company has a 50-day moving average of $24.76 and a 200-day moving average of $25.02. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $33.29.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million during the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.99% and a net margin of 10.93%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. As a group, sell-side analysts expect that The Vita Coco Company, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on COCO. TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. 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 research 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. The Goldman Sachs Group reduced their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, Piper Sandler lifted their price objective 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.67.

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.