Allspring Global Investments Holdings LLC Raises Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Allspring Global Investments Holdings LLC grew its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 92.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,832 shares of the company's stock after acquiring an additional 87,222 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.32% of Vita Coco worth $4,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COCO. Oak Ridge Investments LLC bought a new position in shares of Vita Coco during the 4th quarter valued at approximately $1,922,000. AMI Asset Management Corp boosted its position in Vita Coco by 51.4% during the fourth quarter. AMI Asset Management Corp now owns 121,856 shares of the company's stock worth $3,126,000 after purchasing an additional 41,374 shares during the period. Great Lakes Advisors LLC increased its stake in shares of Vita Coco by 69.7% in the third quarter. Great Lakes Advisors LLC now owns 124,227 shares of the company's stock worth $3,235,000 after purchasing an additional 51,043 shares in the last quarter. 12 West Capital Management LP bought a new stake in shares of Vita Coco in the third quarter valued at approximately $9,114,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Vita Coco during the 3rd quarter valued at approximately $1,071,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Trading Up 0.5 %

Shares of NASDAQ COCO traded up $0.12 during midday trading on Friday, hitting $23.38. 312,745 shares of the company's stock were exchanged, compared to its average volume of 504,259. The business's fifty day moving average price is $24.07 and its two-hundred day moving average price is $25.15. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.86 and a beta of 0.16. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $33.29.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly 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. The business had revenue of $106.10 million during the quarter, compared to analysts' expectations of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. Equities analysts expect that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Vita Coco from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, January 30th. TheStreet lowered Vita Coco from a "b-" rating to a "c+" rating in a research note on Monday, January 22nd. William Blair downgraded Vita Coco from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. Piper Sandler lifted their target price on Vita Coco from $24.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. Finally, Stephens raised shares of Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.71.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the sale, the chairman now owns 640,348 shares of the company's stock, valued at $16,040,717.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total value of $69,611.20. Following the transaction, the director now directly owns 992,644 shares of the company's stock, valued at $24,855,805.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the sale, the chairman now directly owns 640,348 shares of the company's stock, valued at approximately $16,040,717.40. 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 over the last 90 days. 51.10% of the stock is owned by insiders.

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.