Raymond James Financial Inc. Purchases Shares of 216,347 The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James Financial Inc. bought a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 216,347 shares of the company's stock, valued at approximately $7,985,000. Raymond James Financial Inc. owned about 0.38% of Vita Coco at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COCO. GAMMA Investing LLC raised its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC bought a new position in shares of Vita Coco during the 4th quarter valued at $66,000. Quest Partners LLC lifted its stake in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after purchasing an additional 3,473 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Vita Coco in the fourth quarter worth $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Bank of America boosted their target price on Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Stephens downgraded Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target on the stock. in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and a consensus price target of $35.14.

Vita Coco Stock Down 2.2 %

Shares of COCO stock traded down $0.81 during trading hours on Tuesday, reaching $35.45. 516,127 shares of the company's stock were exchanged, compared to its average volume of 549,398. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The stock has a market capitalization of $2.02 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.25 and a beta of 0.34. The business has a fifty day moving average price of $36.38 and a 200-day moving average price of $33.91.

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.