Vanguard Group Inc. Buys 108,844 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Vanguard Group Inc. lifted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,955,075 shares of the company's stock after buying an additional 108,844 shares during the period. Vanguard Group Inc. owned approximately 3.44% of Vita Coco worth $50,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Vita Coco by 72.3% in the third quarter. FMR LLC now owns 2,384,817 shares of the company's stock worth $62,101,000 after buying an additional 1,000,408 shares during the period. BlackRock Inc. boosted its position in shares of Vita Coco by 12.9% in the second quarter. BlackRock Inc. now owns 1,997,803 shares of the company's stock worth $53,681,000 after buying an additional 228,678 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Vita Coco by 41.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company's stock worth $27,151,000 after buying an additional 304,659 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Vita Coco by 9,796.7% in the third quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company's stock worth $20,516,000 after buying an additional 779,912 shares during the period. Finally, Morgan Stanley boosted its position in shares of Vita Coco by 10.5% in the third quarter. Morgan Stanley now owns 675,434 shares of the company's stock worth $17,588,000 after buying an additional 64,438 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Michael Kirban sold 2,562 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now owns 640,348 shares of the company's stock, valued at approximately $16,040,717.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Michael Kirban sold 2,562 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now owns 640,348 shares of the company's stock, valued at approximately $16,040,717.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Liran sold 2,780 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.04, for a total value of $69,611.20. Following the completion of the sale, the director now directly owns 992,644 shares in the company, valued at approximately $24,855,805.76. The disclosure for this sale can be found here. Insiders have sold a total of 52,353 shares of company stock valued at $1,309,536 in the last quarter. Insiders own 51.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on COCO shares. The Goldman Sachs Group decreased their target price on Vita Coco from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, January 30th. TheStreet downgraded Vita Coco from a "b-" rating to a "c+" rating in a report on Monday, January 22nd. Piper Sandler increased their price target on Vita Coco from $24.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. William Blair downgraded Vita Coco from an "outperform" rating to a "market perform" rating in a report on Monday, January 22nd. Finally, Stephens raised Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price target for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.71.

Vita Coco Stock Up 0.4 %

NASDAQ:COCO traded up $0.10 during trading hours on Tuesday, reaching $25.51. 384,869 shares of the stock were exchanged, compared to its average volume of 749,423. The firm has a 50 day simple moving average of $23.39 and a 200-day simple moving average of $25.24. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $33.29. The stock has a market capitalization of $1.45 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.09 and a beta of 0.16.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The company had revenue of $106.10 million for the quarter, compared to the consensus estimate of $99.63 million. During the same quarter last year, the business posted $0.04 EPS. Vita Coco's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current year.

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.