State Street Corp Acquires 39,431 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

State Street Corp lifted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 876,774 shares of the company’s stock after acquiring an additional 39,431 shares during the period. State Street Corp’s holdings in Vita Coco were worth $24,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COCO. Stifel Financial Corp lifted its stake in shares of Vita Coco by 41.4% in the 3rd quarter. Stifel Financial Corp now owns 17,220 shares of the company’s stock valued at $487,000 after purchasing an additional 5,041 shares during the last quarter. Wasatch Advisors LP lifted its position in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after buying an additional 1,799,168 shares during the last quarter. Captrust Financial Advisors boosted its stake in Vita Coco by 7.2% during the third quarter. Captrust Financial Advisors now owns 21,291 shares of the company’s stock worth $603,000 after buying an additional 1,433 shares during the period. Woodson Capital Management LP bought a new position in Vita Coco during the third quarter valued at $19,224,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after acquiring an additional 1,434 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

COCO stock opened at $35.86 on Monday. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $37.88. The firm’s 50-day moving average is $33.92 and its 200 day moving average is $29.52. The company has a market capitalization of $2.03 billion, a PE ratio of 36.22, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $133.00 million for the quarter, compared to the consensus estimate of $138.56 million. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COCO. Craig Hallum lifted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now directly owns 883,729 shares in the company, valued at approximately $31,849,593.16. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,173 shares of company stock worth $5,392,026 in the last ninety days. 34.20% of the stock is owned by company 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.