48,940 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 48,940 shares of the company's stock, valued at approximately $1,806,000. BNP Paribas Financial Markets owned 0.09% of Vita Coco at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COCO. Coppell Advisory Solutions LLC increased its stake in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after buying an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco during the fourth quarter worth about $52,000. Venturi Wealth Management LLC bought a new stake in Vita Coco during the 4th quarter valued at approximately $66,000. Summit Investment Advisors Inc. lifted its holdings in Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new position in Vita Coco in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Vita Coco Trading Down 0.9%

COCO traded down $0.34 during trading hours on Wednesday, hitting $36.84. The company's stock had a trading volume of 686,586 shares, compared to its average volume of 623,487. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 37.21, 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. The business's 50-day moving average price is $32.39 and its 200-day moving average price is $34.76.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The business had revenue of $130.92 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.24 EPS. On average, analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the firm's stock in a transaction dated 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 owns 7,097,161 shares of the company's stock, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Zupo sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $34.77, for a total value of $278,160.00. Following the transaction, the director now directly owns 8,876 shares in the company, valued at approximately $308,618.52. This represents a 47.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,830,762 shares of company stock worth $131,219,259 over the last three months. 32.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens reiterated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Evercore ISI boosted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Vita Coco has an average rating of "Moderate Buy" and a consensus price target of $35.38.

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.