The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,798 shares of the company's stock after acquiring an additional 8,565 shares during the period. Franklin Resources Inc. owned 0.34% of Vita Coco worth $7,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new position in shares of Vita Coco in the fourth quarter worth $10,715,000. Raymond James Financial Inc. acquired a new stake in Vita Coco during the 4th quarter valued at approximately $7,985,000. Segall Bryant & Hamill LLC acquired a new stake in Vita Coco during the 4th quarter valued at approximately $7,609,000. Loomis Sayles & Co. L P boosted its holdings in shares of Vita Coco by 15.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after acquiring an additional 193,420 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Vita Coco by 14.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after acquiring an additional 185,692 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Up 1.0 %

Shares of COCO stock traded up $0.32 during trading hours on Tuesday, hitting $31.70. 127,488 shares of the company's stock were exchanged, compared to its average volume of 589,944. The firm has a 50 day moving average of $34.12 and a two-hundred day moving average of $34.07. 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 cap of $1.81 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.25 and a beta of 0.38.

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Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the sale, the director now directly owns 814,302 shares of the company's stock, valued at $32,629,081.14. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Burth sold 4,052 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total value of $152,355.20. Following the completion of the transaction, the chief operating officer now owns 104,108 shares in the company, valued at $3,914,460.80. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,410 shares of company stock valued at $3,017,811 over the last ninety days. Corporate insiders own 34.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target 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. Stephens reaffirmed an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and a consensus target price of $34.57.

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.