Aberdeen Group plc Trims Holdings in Vita Coco Company, Inc. $COCO

Aberdeen Group plc decreased its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 425,575 shares of the company’s stock after selling 29,303 shares during the period. Aberdeen Group plc owned 0.75% of Vita Coco worth $22,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Clearstead Advisors LLC boosted its position in shares of Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares during the last quarter. Quarry LP lifted its stake in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Mather Group LLC. purchased a new position in Vita Coco during the 3rd quarter valued at approximately $54,000. Finally, GAMMA Investing LLC grew its holdings in Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COCO has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Wall Street Zen cut Vita Coco from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Morgan Stanley boosted their target price on Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average target price of $59.86.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 60,000 shares of Vita Coco stock in a transaction on Monday, March 16th. The shares were sold at an average price of $58.65, for a total value of $3,519,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $3,396,421.50. The trade was a 50.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jane Prior sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the completion of the sale, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at $6,741,955.08. The trade was a 28.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 192,800 shares of company stock valued at $10,801,686 over the last quarter. Insiders own 32.30% of the company’s stock.

Vita Coco Stock Performance

NASDAQ COCO opened at $48.24 on Monday. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $61.39. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. The company’s 50-day simple moving average is $54.52 and its two-hundred day simple moving average is $50.07.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.Vita Coco’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. Equities analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.