Wellington Management Group LLP Purchases 160,353 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Wellington Management Group LLP raised its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 173.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,941 shares of the company's stock after acquiring an additional 160,353 shares during the quarter. Wellington Management Group LLP owned about 0.45% of Vita Coco worth $9,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company's stock valued at $9,174,000 after purchasing an additional 57,622 shares in the last quarter. Captrust Financial Advisors grew its position in Vita Coco by 7.2% during the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company's stock worth $603,000 after buying an additional 1,433 shares in the last quarter. Stifel Financial Corp increased its stake in Vita Coco by 41.4% in the 3rd quarter. Stifel Financial Corp now owns 17,220 shares of the company's stock worth $487,000 after acquiring an additional 5,041 shares during the last quarter. State Street Corp raised its holdings in shares of Vita Coco by 4.7% in the 3rd quarter. State Street Corp now owns 876,774 shares of the company's stock valued at $24,821,000 after acquiring an additional 39,431 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Vita Coco during the 3rd quarter valued at about $348,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens reissued 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 raised their price objective on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company 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 stock. Based on data from MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and a consensus target price of $34.57.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.32 during mid-day trading on Tuesday, hitting $31.70. The stock had a trading volume of 127,488 shares, compared to its average volume of 589,944. The firm has a market cap of $1.81 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The business has a 50 day moving average price of $34.12 and a two-hundred day moving average price of $34.07. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 10,000 shares of the business's stock in a transaction that occurred on 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 directly owns 94,108 shares of the company's stock, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares of the company's stock, valued at approximately $58,206,715. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,410 shares of company stock valued at $3,017,811 over the last three months. Corporate insiders own 34.20% of the company's stock.

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.