Lord Abbett & CO. LLC Has $20.60 Million Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Lord Abbett & CO. LLC grew its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 21.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 558,008 shares of the company's stock after buying an additional 97,592 shares during the period. Lord Abbett & CO. LLC owned 0.98% of Vita Coco worth $20,596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after buying an additional 347 shares during the period. GAMMA Investing LLC grew its stake in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after buying an additional 613 shares during the period. Moran Wealth Management LLC lifted its position in Vita Coco by 4.8% during the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after acquiring an additional 871 shares in the last quarter. Finally, West Coast Financial LLC increased its stake in Vita Coco by 1.2% during the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after buying an additional 1,109 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vita Coco

In other news, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the sale, the chairman now directly owns 2,006,229 shares in the company, valued at $69,355,336.53. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jonathan Burth sold 700 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens restated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their target price on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective on shares of 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.57.

Vita Coco Stock Up 4.8 %

Vita Coco stock traded up $1.50 on Wednesday, hitting $33.05. The company's stock had a trading volume of 1,871,383 shares, compared to its average volume of 608,003. The company has a fifty day moving average price of $32.36 and a 200-day moving average price of $34.26. The Vita Coco Company, Inc. has a one year low of $23.40 and a one year high of $40.32. The firm has a market cap of $1.88 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $130.92 million during the quarter, compared to analysts' expectations of $125.64 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. Analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Vita Coco 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.