Harbor Capital Advisors Inc. Has $842,000 Stake in Vita Coco Company, Inc. (NASDAQ:COCO)

Harbor Capital Advisors Inc. lowered its stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 83.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,458 shares of the company's stock after selling 134,465 shares during the period. Harbor Capital Advisors Inc.'s holdings in Vita Coco were worth $842,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC grew its position in shares of 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 during the period. Venturi Wealth Management LLC bought a new position in Vita Coco in the fourth quarter valued at approximately $66,000. Summit Investment Advisors Inc. grew its holdings in Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after acquiring an additional 347 shares during the period. IHT Wealth Management LLC acquired a new stake in Vita Coco during the 4th quarter worth $216,000. Finally, Entropy Technologies LP bought a new stake in shares of Vita Coco during the 4th quarter valued at $220,000. Institutional investors own 88.49% of the company's stock.

Insiders Place Their Bets

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the sale, the insider now owns 7,097,161 shares in the company, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Kirban sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total transaction of $741,400.00. Following the transaction, the chairman now directly owns 1,643,049 shares of the company's stock, valued at $60,907,826.43. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,814,762 shares of company stock worth $130,759,579. Corporate insiders own 34.20% of the company's stock.

Wall Street Analyst Weigh In

COCO has been the topic of several recent research reports. Stephens restated an "equal weight" rating and issued a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company upped their price target on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, Evercore ISI boosted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.88.

Vita Coco Stock Up 3.7%

Shares of COCO traded up $1.22 on Tuesday, hitting $34.59. The company's stock had a trading volume of 694,439 shares, compared to its average volume of 613,889. The firm's fifty day moving average price is $33.62 and its 200-day moving average price is $34.69. Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 1.76 and a beta of 0.39.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.32% and a return on equity of 25.08%. The firm had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The business's revenue was up 17.2% on a year-over-year basis. As a group, equities analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

About Vita Coco

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.