Raymond James & Associates Makes New $796,000 Investment in The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James & Associates purchased a new position in The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,026 shares of the company’s stock, valued at approximately $796,000. Raymond James & Associates owned about 0.05% of Vita Coco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Headinvest LLC acquired a new stake in Vita Coco in the 3rd quarter worth approximately $29,000. Federated Hermes Inc. boosted 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 worth $167,000 after buying an additional 5,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vita Coco by 95.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock valued at $202,000 after buying an additional 3,776 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Vita Coco in the 3rd quarter valued at $227,000. Finally, Arizona State Retirement System bought a new position in Vita Coco in the 3rd quarter worth $230,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ira Liran sold 13,998 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was 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 in the company, valued at $16,161,468.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now directly owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The disclosure for this sale can be found here. Insiders sold 52,353 shares of company stock worth $1,309,536 in the last 90 days. 51.10% of the stock is owned by company insiders.

Vita Coco Price Performance

COCO opened at $23.61 on Wednesday. The company has a market capitalization of $1.34 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.87 and a beta of 0.16. The firm’s fifty day moving average price is $24.18 and its two-hundred day moving average price is $25.08. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week 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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $99.63 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. William Blair downgraded 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 price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report 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 on the stock in a research note on Thursday, February 29th. Piper Sandler boosted their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, TheStreet downgraded 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

Vita Coco 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.