The Vita Coco Company, Inc. (NASDAQ:COCO) Stock Position Boosted by Moran Wealth Management LLC

Moran Wealth Management LLC grew its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,075 shares of the company’s stock after buying an additional 871 shares during the quarter. Moran Wealth Management LLC’s holdings in Vita Coco were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new position in shares of Vita Coco during the 3rd quarter valued at $19,224,000. Victory Capital Management Inc. raised its stake in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vita Coco in the fourth quarter valued at $7,985,000. Finally, TT International Asset Management LTD boosted its stake in Vita Coco by 1,643.7% during the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after buying an additional 170,797 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of COCO opened at $35.33 on Wednesday. The company has a 50-day moving average of $36.23 and a two-hundred day moving average of $33.21. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on COCO shares. Bank of America boosted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company dropped their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a report on Monday, January 27th. Finally, The Goldman Sachs Group upped their price target on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 14,836 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $37.61, for a total transaction of $557,981.96. Following the completion of the sale, the chief operating officer now directly owns 105,417 shares in the company, valued at approximately $3,964,733.37. This trade represents a 12.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares in the company, valued at $30,375,677.82. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,158 shares of company stock worth $3,256,670. 34.20% of the stock is owned by corporate insiders.

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.