Syon Capital LLC Acquires New Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Syon Capital LLC acquired a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,441,770 shares of the company's stock, valued at approximately $113,931,000. Vita Coco makes up approximately 8.2% of Syon Capital LLC's investment portfolio, making the stock its 2nd biggest holding. Syon Capital LLC owned 7.82% of Vita Coco as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Vita Coco by 72.3% in the 3rd 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Vita Coco by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company's stock valued at $50,910,000 after acquiring an additional 108,844 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of Vita Coco by 41.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company's stock valued at $27,151,000 after acquiring an additional 304,659 shares during the period. abrdn plc acquired a new stake in shares of Vita Coco during the 4th quarter valued at approximately $22,321,000. Finally, 12 West Capital Management LP acquired a new stake in shares of Vita Coco during the 3rd quarter valued at approximately $9,114,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 19,198 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Michael Kirban sold 19,198 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Liran sold 6,915 shares of the company's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the sale, the director now owns 985,729 shares of the company's stock, valued at $24,643,225. The disclosure for this sale can be found here. Insiders sold a total of 52,353 shares of company stock worth $1,309,536 in the last ninety days. Insiders own 51.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens upgraded Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price objective for the company in a research report on Thursday, February 29th. William Blair downgraded Vita Coco from an "outperform" rating to a "market perform" rating in a research report on Monday, January 22nd. TheStreet downgraded Vita Coco from a "b-" rating to a "c+" rating in a research report on Monday, January 22nd. The Goldman Sachs Group cut their price objective 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. Finally, Piper Sandler lifted their price objective on Vita Coco from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.71.

Vita Coco Trading Up 2.7 %

Shares of Vita Coco stock traded up $0.64 during trading hours on Friday, reaching $24.75. 310,855 shares of the company's stock were exchanged, compared to its average volume of 692,932. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.16. The company has a fifty day moving average of $24.33 and a 200-day moving average of $25.05.

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