The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by West Coast Financial LLC

West Coast Financial LLC trimmed its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,059 shares of the company’s stock after selling 2,782 shares during the period. West Coast Financial LLC’s holdings in Vita Coco were worth $2,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of COCO. Barclays PLC raised its holdings in shares of Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after purchasing an additional 46,385 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Vita Coco by 17.5% during the fourth quarter. Bleakley Financial Group LLC now owns 16,319 shares of the company’s stock worth $602,000 after purchasing an additional 2,425 shares during the period. Entropy Technologies LP acquired a new stake in shares of Vita Coco during the fourth quarter worth $220,000. Principal Financial Group Inc. raised its holdings in shares of Vita Coco by 15.9% during the fourth quarter. Principal Financial Group Inc. now owns 43,288 shares of the company’s stock worth $1,598,000 after purchasing an additional 5,940 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Vita Coco in the 4th quarter worth about $66,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the company a “buy” rating in a research note on Wednesday, April 30th. Stephens reissued an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Wells Fargo & Company raised their target price on Vita Coco from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Wall Street Zen upgraded Vita Coco from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Finally, Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.88.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $35.06, for a total value of $701,200.00. Following the transaction, the chairman now owns 1,689,049 shares of the company’s stock, valued at approximately $59,218,057.94. This trade represents a 1.17% decrease in their position. 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 Vita Coco stock in a transaction dated 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 completion of the transaction, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,854,762 shares of company stock valued at $132,152,179 over the last 90 days. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco Stock Performance

Shares of COCO opened at $34.10 on Friday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39. The Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The stock’s fifty day moving average is $32.86 and its 200-day moving average is $34.83.

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