Raymond James Financial Services Advisors Inc. Has $298,000 Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James Financial Services Advisors Inc. decreased its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,605 shares of the company’s stock after selling 1,346 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Vita Coco were worth $298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new stake in Vita Coco in the 3rd quarter worth approximately $29,000. Federated Hermes Inc. raised its holdings in shares of Vita Coco by 1,237.2% during the 3rd quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock valued at $167,000 after purchasing an additional 5,926 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $202,000 after purchasing an additional 3,776 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Vita Coco during the 3rd quarter valued at $227,000. Finally, Arizona State Retirement System bought a new position in shares of Vita Coco during the 3rd quarter valued at $230,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of COCO opened at $23.08 on Tuesday. The company has a market capitalization of $1.31 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.16. The company’s fifty day moving average price is $24.12 and its 200 day moving average price is $25.10. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Analysts anticipate that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current year.

Insiders Place Their Bets

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96. Following the sale, the director now directly owns 645,942 shares in the company, valued at approximately $16,161,468.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock worth $1,309,536 in the last ninety days. Insiders own 51.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COCO shares. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. The Goldman Sachs Group cut their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. William Blair downgraded shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, February 29th. Finally, Piper Sandler lifted their target price 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $29.71.

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.