The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,593 shares of the company’s stock after selling 2,157 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Vita Coco were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in COCO. FMR LLC grew its position in shares of 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 purchasing an additional 1,000,408 shares during the period. 12 West Capital Management LP purchased a new stake in shares of Vita Coco in the third quarter valued at $9,114,000. JW Asset Management LLC purchased a new stake in shares of Vita Coco in the third quarter valued at $9,000,000. Loomis Sayles & Co. L P grew its position in shares of 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 purchasing an additional 304,659 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 108,844 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on COCO shares. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” 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. Piper Sandler boosted their price target on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group cut their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Insider Activity

In other news, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the transaction, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vita Coco news, 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 owns 992,644 shares in the company, valued at approximately $24,855,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the sale, the chairman now owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,353 shares of company stock worth $1,309,536. Insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 1.0 %

NASDAQ COCO opened at $26.25 on Thursday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $33.29. The company has a market cap of $1.49 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.70 and a beta of 0.18. The company has a fifty day simple moving average of $24.93 and a 200 day simple moving average of $25.05.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.02 EPS for the current fiscal 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.