Bank of America Corp DE Raises Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Bank of America Corp DE boosted its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 382.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 512,120 shares of the company's stock after purchasing an additional 405,913 shares during the period. Bank of America Corp DE owned 0.90% of Vita Coco worth $18,902,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC increased its stake in shares of Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC bought a new position in shares of Vita Coco in the 4th quarter valued at $66,000. Summit Investment Advisors Inc. increased 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 purchasing an additional 347 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new position in shares of Vita Coco in the 4th quarter valued at $216,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Stock Down 0.2%

COCO traded down $0.08 during midday trading on Friday, hitting $36.20. 466,743 shares of the company were exchanged, compared to its average volume of 627,979. The firm has a market capitalization of $2.05 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32. The firm's 50 day moving average price is $32.49 and its 200-day moving average price is $34.79.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. On average, sell-side analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total value of $741,400.00. Following the transaction, the chairman now owns 1,643,049 shares in the company, valued at approximately $60,907,826.43. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,864,762 shares of company stock valued at $132,479,079 in the last three months. Corporate insiders own 32.30% of the company's stock.

Analysts Set New Price Targets

COCO has been the topic of several recent research reports. 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 report on Thursday, February 27th. Stephens reissued an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Evercore ISI raised their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Vita Coco currently has a consensus rating of "Moderate Buy" and an average price target of $35.38.

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.