Allspring Global Investments Holdings LLC Acquires 87,222 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Allspring Global Investments Holdings LLC raised its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 92.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,832 shares of the company’s stock after purchasing an additional 87,222 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Vita Coco worth $4,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Vita Coco by 0.4% during the third quarter. AQR Capital Management LLC now owns 86,387 shares of the company’s stock valued at $2,250,000 after purchasing an additional 374 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Vita Coco by 66.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock valued at $38,000 after purchasing an additional 560 shares during the last quarter. HighTower Advisors LLC grew its holdings in Vita Coco by 0.5% during the third quarter. HighTower Advisors LLC now owns 127,316 shares of the company’s stock valued at $3,314,000 after purchasing an additional 618 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Vita Coco by 6.0% during the first quarter. Squarepoint Ops LLC now owns 11,004 shares of the company’s stock valued at $216,000 after purchasing an additional 626 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Vita Coco by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock valued at $337,000 after purchasing an additional 638 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

COCO opened at $23.38 on Friday. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $33.29. The firm’s fifty day moving average price is $24.01 and its two-hundred day moving average price is $25.18. The company has a market capitalization of $1.33 billion, a P/E ratio of 29.23, a P/E/G ratio of 1.87 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last posted 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 firm had revenue of $106.10 million for the quarter, compared to the consensus estimate of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of Vita Coco 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 transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of Vita Coco 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 transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at $16,418,639.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total value of $69,611.20. Following the transaction, the director now directly owns 992,644 shares of the company’s stock, valued at $24,855,805.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,353 shares of company stock valued at $1,309,536. 51.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COCO. William Blair downgraded shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Piper Sandler raised their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Finally, Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.

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.