Counterpoint Mutual Funds LLC Acquires New Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Counterpoint Mutual Funds LLC purchased a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,519 shares of the company's stock, valued at approximately $462,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COCO. GAMMA Investing LLC raised its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Moran Wealth Management LLC increased its stake in Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock valued at $704,000 after purchasing an additional 871 shares during the last quarter. West Coast Financial LLC raised its holdings in Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after purchasing an additional 1,109 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Vita Coco by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company's stock worth $12,009,000 after purchasing an additional 1,329 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Analyst Ratings Changes

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

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Insiders Place Their Bets

In related news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the transaction, the chairman now directly owns 2,006,229 shares of the company's stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jonathan Burth sold 700 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total transaction of $28,175.00. Following the completion of the sale, the chief operating officer now owns 104,108 shares of the company's stock, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,410 shares of company stock worth $3,017,811. 34.20% of the stock is owned by insiders.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.06 during trading on Friday, reaching $35.51. The company had a trading volume of 697,142 shares, compared to its average volume of 548,199. The stock's fifty day moving average price is $36.27 and its 200 day moving average price is $33.56. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

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.