Raymond James Financial Inc. Buys 8,960 Shares of Vita Coco Company, Inc. $COCO

Raymond James Financial Inc. grew its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,307 shares of the company’s stock after purchasing an additional 8,960 shares during the quarter. Raymond James Financial Inc. owned about 0.40% of Vita Coco worth $6,906,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. TT International Asset Management LTD bought a new position in Vita Coco during the first quarter worth $3,035,000. BNP Paribas Financial Markets acquired a new stake in Vita Coco during the 4th quarter worth about $1,806,000. GAMMA Investing LLC grew its holdings in Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company’s stock worth $859,000 after acquiring an additional 25,544 shares during the period. Russell Investments Group Ltd. raised its position in shares of Vita Coco by 53.8% in the 1st quarter. Russell Investments Group Ltd. now owns 197,586 shares of the company’s stock worth $6,056,000 after acquiring an additional 69,100 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Vita Coco by 398.5% in the 1st quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock valued at $2,999,000 after purchasing an additional 78,229 shares during the period. 88.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $37.65, for a total value of $146,835.00. Following the transaction, the director owned 631,666 shares of the company’s stock, valued at approximately $23,782,224.90. This trade represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Liran sold 3,152 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $37.02, for a total value of $116,687.04. Following the sale, the director directly owned 635,189 shares of the company’s stock, valued at $23,514,696.78. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,952 shares of company stock worth $1,500,913. 34.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

COCO has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Vita Coco from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price objective for the company in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Finally, Morgan Stanley increased their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.38.

Vita Coco Stock Up 2.7%

Shares of COCO opened at $36.72 on Wednesday. The business’s fifty day moving average is $35.90 and its 200 day moving average is $34.47. Vita Coco Company, Inc. has a 12-month low of $24.09 and a 12-month high of $40.32. The stock has a market cap of $2.09 billion, a P/E ratio of 34.32, a P/E/G ratio of 1.89 and a beta of 0.36.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million during the quarter, compared to analyst estimates of $162.20 million. During the same quarter in the previous year, the business posted $0.32 EPS. Vita Coco’s quarterly revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

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.