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

Raymond James Financial Inc. increased its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,307 shares of the company's stock after acquiring an additional 8,960 shares during the period. Raymond James Financial Inc. owned about 0.40% of Vita Coco worth $6,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE raised its holdings in shares of Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after acquiring an additional 364 shares in the last quarter. CWM LLC raised its holdings in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after acquiring an additional 367 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock valued at $1,343,000 after buying an additional 521 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Vita Coco by 16.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock valued at $164,000 after buying an additional 758 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vita Coco by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock valued at $824,000 after buying an additional 842 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 14,734 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.05, for a total transaction of $545,894.70. Following the transaction, the director directly owned 620,455 shares in the company, valued at $22,987,857.75. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the transaction, the insider owned 94,127 shares in the company, valued at $3,578,708.54. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,800 shares of company stock valued at $2,125,026. 32.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COCO has been the topic of several recent research reports. Morgan Stanley raised their target price on Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Piper Sandler raised 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. Wells Fargo & Company boosted their price objective on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Vita Coco has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Vita Coco Trading Up 3.5%

COCO traded up $1.29 on Friday, hitting $38.54. 856,648 shares of the stock traded hands, compared to its average volume of 689,020. Vita Coco Company, Inc. has a 52 week low of $24.50 and a 52 week high of $40.32. The firm has a market capitalization of $2.19 billion, a PE ratio of 36.02, a P/E/G ratio of 1.97 and a beta of 0.36. The business has a fifty day moving average price of $36.02 and a two-hundred day moving average price of $34.46.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The firm had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company's quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.