Wasatch Advisors LP trimmed its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) by 38.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,255,360 shares of the company’s stock after selling 1,420,129 shares during the quarter. Wasatch Advisors LP’s holdings in Vita Coco were worth $149,170,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco in the 4th quarter valued at about $73,242,000. Millennium Management LLC lifted its stake in Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Vita Coco by 135.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock worth $54,460,000 after buying an additional 737,823 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Vita Coco by 148.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,148,453 shares of the company’s stock worth $60,881,000 after buying an additional 686,547 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.
Vita Coco Trading Up 2.7%
Shares of NASDAQ COCO opened at $64.46 on Wednesday. Vita Coco Company, Inc. has a 12-month low of $31.92 and a 12-month high of $85.83. The stock has a market cap of $3.70 billion, a PE ratio of 35.61, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a 50-day moving average of $72.57 and a 200 day moving average of $63.39.
Insider Activity at Vita Coco
In other Vita Coco news, Director Ira Liran sold 73,842 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the completion of the sale, the director directly owned 402,579 shares in the company, valued at $32,335,145.28. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 355,845 shares of company stock valued at $28,309,399. 12.90% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have commented on COCO. Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Piper Sandler boosted their price target on Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Vita Coco in a research note on Wednesday, July 29th. Finally, Citigroup restated a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and an average target price of $77.71.
Read Our Latest Analysis on Vita Coco
Vita Coco 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.
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