Wellington Management Group LLP Boosts Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Wellington Management Group LLP lifted its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 173.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,941 shares of the company’s stock after buying an additional 160,353 shares during the quarter. Wellington Management Group LLP’s holdings in Vita Coco were worth $9,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Barclays PLC grew its holdings in shares of Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after acquiring an additional 46,385 shares during the period. Pier Capital LLC raised its holdings in Vita Coco by 39.6% in the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock worth $7,405,000 after purchasing an additional 56,879 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after buying an additional 80,128 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Vita Coco during the 4th quarter valued at $7,985,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Vita Coco in the 4th quarter worth about $399,000. 88.49% of the stock is owned by institutional investors.

Vita Coco Stock Up 12.2 %

NASDAQ:COCO opened at $31.28 on Thursday. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.25 and a beta of 0.38. The company’s 50 day moving average price is $34.49 and its 200-day moving average price is $34.01.

Analyst Upgrades and Downgrades

COCO has been the topic of several research reports. Stephens reissued an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group upped their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.57.

Insider Buying and Selling at Vita Coco

In related news, COO Jonathan Burth sold 4,052 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total value of $152,355.20. Following the sale, the chief operating officer now owns 104,108 shares in the company, valued at approximately $3,914,460.80. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,410 shares of company stock worth $3,017,811. Insiders own 34.20% of the company’s stock.

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.