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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted 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 in the last quarter. Coppell Advisory Solutions LLC lifted its position in Vita Coco by 91.5% during 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. Moran Wealth Management LLC lifted its position in Vita Coco by 4.8% during the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after buying an additional 871 shares in the last quarter. Jane Street Group LLC lifted its position in Vita Coco by 1.3% during the 4th quarter. Jane Street Group LLC now owns 82,108 shares of the company's stock worth $3,031,000 after buying an additional 1,078 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its position in Vita Coco by 0.3% during the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company's stock worth $14,837,000 after buying an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on COCO shares. Evercore ISI upped their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Stephens reiterated an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have issued 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.

Vita Coco Stock Performance

NASDAQ:COCO traded down $0.08 on Friday, hitting $36.20. 466,743 shares of the stock were exchanged, compared to its average volume of 626,672. The stock has a market capitalization of $2.05 billion, a price-to-earnings 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 52 week low of $23.56 and a 52 week high of $40.32. The company's 50-day moving average price is $32.49 and its 200 day moving average price is $34.80.

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 for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million during the quarter, compared to analysts' expectations of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities research analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 10,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. This trade represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the sale, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,864,762 shares of company stock valued at $132,479,079. 32.30% of the stock is currently owned by insiders.

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.