Harvest Fund Management Co. Ltd Buys New Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Harvest Fund Management Co. Ltd acquired a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,377 shares of the company's stock, valued at approximately $457,000.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP boosted its stake in shares of Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock worth $67,972,000 after acquiring an additional 1,799,168 shares during the period. Geode Capital Management LLC lifted its holdings in Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock valued at $29,494,000 after purchasing an additional 101,823 shares during the last quarter. State Street Corp boosted its position in Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company's stock worth $24,821,000 after purchasing an additional 39,431 shares during the period. Woodson Capital Management LP bought a new position in shares of Vita Coco in the third quarter valued at about $19,224,000. Finally, Lord Abbett & CO. LLC raised its holdings in Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock valued at $13,034,000 after acquiring an additional 80,128 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 700 shares of Vita Coco stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at $4,190,347. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $40.02, for a total transaction of $68,954.46. Following the sale, the director now directly owns 812,579 shares of the company's stock, valued at $32,519,411.58. This represents a 0.21 % 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 90 days. 34.20% of the stock is owned by insiders.

Remove Ads

Analysts Set New Price Targets

A number of research firms have recently weighed in on COCO. The Goldman Sachs Group lifted their target price on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Bank of America increased their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, Stephens downgraded shares of Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target for the company. in a research report on Monday, January 27th. Three investment 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.14.

Vita Coco Trading Down 2.2 %

COCO traded down $0.81 during trading on Tuesday, reaching $35.45. 516,127 shares of the company's stock were exchanged, compared to its average volume of 549,243. The firm has a fifty day moving average price of $36.38 and a two-hundred day moving average price of $33.91. The stock has a market capitalization of $2.02 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32.

About Vita Coco

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.