7,549 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Bought by Goldstone Financial Group LLC

Goldstone Financial Group LLC acquired a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,549 shares of the company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coppell Advisory Solutions LLC lifted its stake in shares of Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at about $66,000. Summit Investment Advisors Inc. lifted its stake in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after purchasing an additional 347 shares during the period. IHT Wealth Management LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at about $216,000. Finally, Townsquare Capital LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at about $291,000. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on COCO shares. Wells Fargo & Company upped their price target on Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Stephens reissued an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI increased their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.88.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 14,000 shares of Vita Coco stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $37.03, for a total value of $518,420.00. Following the sale, the chairman now directly owns 1,629,049 shares of the company’s stock, valued at approximately $60,323,684.47. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the sale, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,834,762 shares of company stock valued at $131,460,779 in the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco Stock Down 2.1%

Shares of COCO stock opened at $33.06 on Friday. The business has a 50-day moving average price of $33.44 and a two-hundred day moving average price of $34.71. The Vita Coco Company, Inc. has a 12-month low of $23.56 and a 12-month high of $40.32. The firm has a market cap of $1.88 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. During the same quarter in the previous year, the company posted $0.24 EPS. Vita Coco’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.