Corebridge Financial Inc. Has $720,000 Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Corebridge Financial Inc. cut its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 7.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,515 shares of the company’s stock after selling 1,474 shares during the quarter. Corebridge Financial Inc.’s holdings in Vita Coco were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco in the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC bought a new stake in Vita Coco in the fourth quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after buying an additional 1,434 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $220,000. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 10,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the transaction, the chief operating officer now directly owns 94,108 shares in the company, valued at approximately $3,076,390.52. This trade represents a 9.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,410 shares of company stock worth $3,017,811. Insiders own 34.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COCO shares. Wells Fargo & Company dropped their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Stephens reiterated an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their target price on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $34.57.

Vita Coco Price Performance

NASDAQ:COCO opened at $27.94 on Monday. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The company has a market cap of $1.59 billion, a PE ratio of 28.22, a PEG ratio of 2.25 and a beta of 0.38. The firm has a 50-day moving average of $35.34 and a 200-day moving average of $34.05.

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.