Thrivent Financial for Lutherans Sells 129,165 Shares of Vita Coco Company, Inc. $COCO

Thrivent Financial for Lutherans decreased its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 36.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 227,120 shares of the company’s stock after selling 129,165 shares during the quarter. Thrivent Financial for Lutherans owned 0.40% of Vita Coco worth $9,646,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. MAI Capital Management bought a new position in Vita Coco during the second quarter valued at about $33,000. Mather Group LLC. bought a new stake in shares of Vita Coco during the third quarter valued at approximately $54,000. EverSource Wealth Advisors LLC raised its stake in shares of Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Vita Coco in the second quarter worth $50,000. Finally, State of Alaska Department of Revenue acquired a new stake in Vita Coco during the third quarter worth $93,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COCO shares. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Wells Fargo & Company raised their target price on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $48.00 to $54.00 in a research note on Monday, November 17th. Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, Piper Sandler increased their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $53.50.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $44.00, for a total value of $224,488.00. Following the completion of the transaction, the chairman directly owned 1,479,049 shares of the company’s stock, valued at approximately $65,078,156. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Zupo sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $43.72, for a total value of $437,200.00. Following the sale, the director directly owned 12,162 shares in the company, valued at approximately $531,722.64. This represents a 45.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,421 shares of company stock worth $8,009,791 over the last ninety days. 32.30% of the stock is owned by corporate insiders.

Vita Coco Stock Performance

Shares of COCO stock opened at $56.99 on Friday. Vita Coco Company, Inc. has a 52-week low of $25.79 and a 52-week high of $58.05. The firm’s 50 day moving average price is $53.88 and its two-hundred day moving average price is $44.67. The stock has a market cap of $3.25 billion, a PE ratio of 49.56, a PEG ratio of 1.56 and a beta of 0.38.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.