abrdn plc Takes $22.32 Million Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

abrdn plc bought a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 870,210 shares of the company's stock, valued at approximately $22,321,000. abrdn plc owned about 1.53% of Vita Coco as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COCO. FMR LLC increased its holdings in Vita Coco by 72.3% in the third quarter. FMR LLC now owns 2,384,817 shares of the company's stock valued at $62,101,000 after purchasing an additional 1,000,408 shares during the last quarter. 12 West Capital Management LP bought a new stake in Vita Coco in the third quarter valued at about $9,114,000. JW Asset Management LLC bought a new stake in Vita Coco in the third quarter valued at about $9,000,000. Loomis Sayles & Co. L P increased its holdings in 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 valued at $27,151,000 after purchasing an additional 304,659 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Vita Coco by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company's stock valued at $50,910,000 after purchasing an additional 108,844 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COCO. TheStreet downgraded Vita Coco from a "b-" rating to a "c+" rating in a report on Monday, January 22nd. The Goldman Sachs Group lowered their price target on Vita Coco from $32.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, January 30th. William Blair downgraded Vita Coco from an "outperform" rating to a "market perform" 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 stock an "overweight" rating in a report on Thursday, February 29th. Finally, Stephens upgraded 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and an average price target of $29.71.

Vita Coco Stock Performance

NASDAQ COCO traded up $0.58 during trading hours on Wednesday, hitting $24.19. 354,870 shares of the company traded hands, compared to its average volume of 702,493. The business's 50-day moving average is $24.18 and its 200-day moving average is $25.08. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $33.29. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 1.84 and a beta of 0.16.

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

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Liran sold 13,998 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now owns 645,942 shares in the company, valued at approximately $16,161,468.84. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock worth $1,309,536 over the last 90 days. Company insiders own 51.10% of the company's stock.

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.