Wasatch Advisors LP Raises Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Wasatch Advisors LP grew its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 17.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,828,868 shares of the company’s stock after acquiring an additional 427,871 shares during the quarter. Wasatch Advisors LP’s holdings in Vita Coco were worth $104,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COCO. Barclays PLC increased its stake in Vita Coco by 200.6% during the third 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 last quarter. Pier Capital LLC increased its position in shares of Vita Coco by 39.6% during the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company’s stock valued at $7,405,000 after purchasing an additional 56,879 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Vita Coco by 21.1% during the 3rd 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. purchased a new stake in Vita Coco during the 4th quarter valued at $7,985,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Vita Coco in the fourth quarter worth $399,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Vita Coco Price Performance

COCO opened at $31.38 on Wednesday. The stock’s fifty day moving average is $34.00 and its two-hundred day moving average is $34.06. The company has a market capitalization of $1.79 billion, a P/E ratio of 31.70, a PEG ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $3,914,460.80. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares of the company’s stock, valued at $58,206,715. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,410 shares of company stock valued at $3,017,811. 34.20% of the stock is currently owned by corporate insiders.

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.