NewEdge Advisors LLC Invests $2.25 Million in The Vita Coco Company, Inc. (NASDAQ:COCO)

NewEdge Advisors LLC bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 61,042 shares of the company's stock, valued at approximately $2,253,000. NewEdge Advisors LLC owned 0.11% of Vita Coco at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans bought a new stake in Vita Coco in the fourth quarter worth about $10,715,000. Raymond James Financial Inc. bought a new position in shares of Vita Coco during the 4th quarter valued at $7,985,000. Segall Bryant & Hamill LLC acquired a new stake in Vita Coco in the 4th quarter worth approximately $7,609,000. Loomis Sayles & Co. L P grew its stake in Vita Coco by 15.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after buying an additional 193,420 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Vita Coco by 14.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after purchasing an additional 185,692 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Price Performance

COCO traded up $0.09 during mid-day trading on Friday, hitting $30.82. The stock had a trading volume of 524,082 shares, compared to its average volume of 599,459. The stock's fifty day simple moving average is $32.67 and its 200-day simple moving average is $34.26. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1-year low of $23.40 and a 1-year high of $40.32.

Wall Street Analyst Weigh In

Several equities analysts have commented on COCO shares. Stephens reaffirmed an "equal weight" rating and issued a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Vita Coco presently has an average rating of "Moderate Buy" and a consensus target price of $34.57.

Insiders Place Their Bets

In related news, Director Ira Liran sold 20,235 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now owns 94,108 shares in the company, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,358 shares of company stock worth $2,865,456 over the last ninety days. 34.20% of the stock is currently owned by corporate 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.