West Coast Financial LLC Takes Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

West Coast Financial LLC bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 90,732 shares of the company’s stock, valued at approximately $2,569,000. West Coast Financial LLC owned about 0.16% of Vita Coco as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Syon Capital LLC bought a new position in Vita Coco in the fourth quarter worth approximately $113,931,000. Vanguard Group Inc. grew its stake in Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after purchasing an additional 230,991 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after buying an additional 156,033 shares during the period. William Blair Investment Management LLC lifted its holdings in Vita Coco by 8.0% during the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock worth $21,203,000 after buying an additional 56,416 shares during the period. Finally, Champlain Investment Partners LLC purchased a new stake in Vita Coco during the first quarter worth $18,210,000. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Wells Fargo & Company increased their price objective on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America increased their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group decreased their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.17.

Insider Activity

In other news, COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the sale, the chief operating officer now directly owns 124,605 shares in the company, valued at $3,739,396.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 0.8 %

COCO traded up $0.22 during midday trading on Friday, hitting $28.48. 51,689 shares of the company were exchanged, compared to its average volume of 626,683. The company’s 50 day simple moving average is $26.72 and its 200 day simple moving average is $26.57. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $31.42.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $144.08 million. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that The Vita Coco Company, Inc. will post 1.05 EPS for the current year.

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.