abrdn plc Purchases Shares of 870,210 The Vita Coco Company, Inc. (NASDAQ:COCO)

abrdn plc purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 870,210 shares of the company’s stock, valued at approximately $22,321,000. abrdn plc owned about 1.53% of Vita Coco as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in COCO. AMI Asset Management Corp bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $2,096,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $324,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $337,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vita Coco by 95.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after buying an additional 3,776 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Vita Coco by 31.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 94,610 shares of the company’s stock worth $2,464,000 after buying an additional 22,549 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Vita Coco

In related news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the transaction, the director now directly owns 645,942 shares in the company, valued at approximately $16,161,468.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the transaction, the director now owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the transaction, the chairman now directly owns 640,348 shares in the company, valued at approximately $16,040,717.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,353 shares of company stock worth $1,309,536. Corporate insiders own 51.10% of the company’s stock.

Vita Coco Trading Up 2.3 %

Vita Coco stock opened at $23.61 on Wednesday. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $33.29. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 1.87 and a beta of 0.16. The firm has a 50 day simple moving average of $24.18 and a 200 day simple moving average of $25.08.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business had revenue of $106.10 million during the quarter, compared to analyst estimates of $99.63 million. During the same period in the previous year, the business earned $0.04 EPS. Vita Coco’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts forecast that The Vita Coco Company, Inc. will post 0.92 EPS for the current 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.