12,825 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,825 shares of the company’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its stake in Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after acquiring an additional 1,000,408 shares during the period. Vanguard Group Inc. increased its stake in shares of Vita Coco by 5.9% in the third quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock valued at $50,910,000 after purchasing an additional 108,844 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Vita Coco by 41.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock valued at $27,151,000 after purchasing an additional 304,659 shares during the period. 12 West Capital Management LP acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $9,114,000. Finally, JW Asset Management LLC acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $9,000,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Vita Coco stock opened at $24.75 on Friday. The firm has a 50 day simple moving average of $24.33 and a 200-day simple moving average of $25.05. The stock has a market capitalization of $1.40 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.16. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $33.29.

Vita Coco (NASDAQ:COCO) last issued its 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 during the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. On average, analysts forecast that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on COCO. William Blair lowered 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 target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group dropped their price target 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. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Thursday, February 29th. Finally, TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.71.

Insider Buying and Selling

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

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.