KLP Kapitalforvaltning AS Invests $399,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

KLP Kapitalforvaltning AS bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,800 shares of the company’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans acquired a new position in Vita Coco during the 4th quarter valued at about $10,715,000. Raymond James Financial Inc. acquired a new position in shares of Vita Coco during the fourth quarter valued at about $7,985,000. TT International Asset Management LTD increased its holdings in shares of 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 acquiring an additional 170,797 shares in the last quarter. Geode Capital Management LLC boosted its stake in Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Vita Coco in the 3rd quarter worth approximately $2,621,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company dropped their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Stephens reissued an “equal weight” rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.57.

Vita Coco Trading Up 3.5 %

Shares of NASDAQ:COCO opened at $27.94 on Friday. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32. The company has a market cap of $1.59 billion, a PE ratio of 28.22, a P/E/G ratio of 2.25 and a beta of 0.34. The company’s 50 day moving average is $35.34 and its two-hundred day moving average is $33.97.

Insider Transactions at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the transaction, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. This trade represents a 9.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,410 shares of company stock worth $3,017,811. Corporate insiders own 34.20% of the company’s stock.

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.