Vanguard Group Inc. Raises Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Vanguard Group Inc. boosted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,589,134 shares of the company’s stock after buying an additional 11,712 shares during the period. Vanguard Group Inc. owned approximately 4.56% of Vita Coco worth $95,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of COCO. Geode Capital Management LLC raised its position in shares of Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after buying an additional 101,823 shares in the last quarter. State Street Corp raised its stake in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after acquiring an additional 39,431 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after acquiring an additional 80,128 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Vita Coco by 12.9% in the 4th quarter. New York State Common Retirement Fund now owns 341,853 shares of the company’s stock valued at $12,618,000 after purchasing an additional 39,008 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Vita Coco by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company’s stock valued at $12,009,000 after purchasing an additional 1,329 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company dropped their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a research note on Thursday, March 27th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.57.

Vita Coco Price Performance

COCO opened at $31.28 on Thursday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The business has a 50 day simple moving average of $34.49 and a two-hundred day simple moving average of $34.01.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the transaction, the chairman now directly owns 1,663,049 shares of the company’s stock, valued at $58,206,715. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the completion of the sale, the chief operating officer now owns 94,108 shares of the company’s stock, valued at $3,076,390.52. This trade represents a 9.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,410 shares of company stock worth $3,017,811 over the last quarter. 34.20% of the stock is owned by corporate 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.