BNP Paribas Financial Markets Takes Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

BNP Paribas Financial Markets purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 48,940 shares of the company’s stock, valued at approximately $1,806,000. BNP Paribas Financial Markets owned about 0.09% of Vita Coco at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Vita Coco during the 4th quarter valued at about $52,000. Venturi Wealth Management LLC acquired a new stake in shares of Vita Coco during the 4th quarter valued at about $66,000. Summit Investment Advisors Inc. raised its stake in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after acquiring an additional 347 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in shares of Vita Coco in the 4th quarter valued at approximately $216,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Up 2.9%

Shares of NASDAQ COCO opened at $35.62 on Friday. The business’s 50 day moving average is $32.32 and its two-hundred day moving average is $34.68. The company has a market cap of $2.02 billion, a P/E ratio of 35.98, a P/E/G ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. Sell-side analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COCO shares. Evercore ISI raised their price objective on Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a “buy” rating in a research note on Wednesday, April 30th. Stephens reissued an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.38.

Insider Activity

In other news, Chairman Michael Kirban sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00. Following the sale, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. This represents a 34.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,832,485 shares of company stock worth $131,288,213. Company insiders own 32.30% of the company’s stock.

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.