Venturi Wealth Management LLC Makes New Investment in The Vita Coco Company, Inc. (NASDAQ:COCO)

Venturi Wealth Management LLC acquired 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 and Exchange Commission (SEC). The fund acquired 1,800 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Vita Coco by 15.9% in the fourth quarter. Principal Financial Group Inc. now owns 43,288 shares of the company’s stock worth $1,598,000 after purchasing an additional 5,940 shares during the period. Entropy Technologies LP acquired a new position in Vita Coco in the fourth quarter worth $220,000. Bleakley Financial Group LLC boosted its holdings in Vita Coco by 17.5% in the fourth quarter. Bleakley Financial Group LLC now owns 16,319 shares of the company’s stock worth $602,000 after purchasing an additional 2,425 shares during the period. Catalina Capital Group LLC acquired a new position in Vita Coco in the fourth quarter worth $248,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco in the fourth quarter worth $52,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Up 0.5 %

COCO stock opened at $37.75 on Tuesday. The company has a market capitalization of $2.14 billion, a P/E ratio of 38.13, a PEG ratio of 2.25 and a beta of 0.30. The company has a 50-day simple moving average of $36.75 and a 200 day simple moving average of $32.56. The Vita Coco Company, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $40.32.

Insider Buying and Selling

In related news, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $35.54, for a total transaction of $177,700.00. Following the completion of the sale, the chief executive officer now owns 392,152 shares in the company, valued at approximately $13,937,082.08. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,270 shares of company stock valued at $4,488,069 over the last 90 days. 34.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Bank of America boosted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Craig Hallum boosted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus target price of $34.83.

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.