The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,173 shares of the company’s stock after purchasing an additional 31,050 shares during the period. Northern Trust Corp owned approximately 0.72% of Vita Coco worth $15,176,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COCO. Barclays PLC increased its stake in Vita Coco by 200.6% in the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after buying an additional 46,385 shares during the period. GAMMA Investing LLC increased its stake in shares of Vita Coco by 84.9% during the fourth 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. West Coast Financial LLC increased its stake in shares of Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after acquiring an additional 1,109 shares during the period. SG Americas Securities LLC increased its stake in shares of Vita Coco by 94.2% during the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock worth $875,000 after acquiring an additional 11,500 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco during the 4th quarter worth approximately $52,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $33.99 on Thursday. The business’s 50 day simple moving average is $32.31 and its 200-day simple moving average is $34.58. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. Vita Coco’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the sale, the director now owns 814,302 shares of the company’s stock, valued at approximately $32,629,081.14. This represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the sale, the insider now owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,853,420 shares of company stock worth $132,127,204 in the last three months. Corporate insiders own 32.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COCO shares. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Stephens reaffirmed an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Finally, Evercore ISI upped their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.38.

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.