New York State Common Retirement Fund Boosts Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

New York State Common Retirement Fund boosted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,853 shares of the company's stock after purchasing an additional 39,008 shares during the quarter. New York State Common Retirement Fund owned about 0.60% of Vita Coco worth $12,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of COCO. GAMMA Investing LLC increased 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 valued at $29,000 after purchasing an additional 360 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Vita Coco in the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC bought a new position in Vita Coco during the fourth quarter valued at approximately $66,000. Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vita Coco by 25.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock worth $199,000 after acquiring an additional 1,434 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Vita Coco Stock Up 0.7 %

Shares of COCO traded up $0.23 during mid-day trading on Friday, hitting $32.44. 691,555 shares of the company's stock traded hands, compared to its average volume of 556,713. The business's 50-day moving average price is $36.68 and its 200-day moving average price is $32.66. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32. The firm has a market capitalization of $1.84 billion, a P/E ratio of 32.77, a PEG ratio of 2.25 and a beta of 0.30.

Wall Street Analysts Forecast Growth

Several equities 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 target price on the stock. in a report on Monday, January 27th. Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and a consensus target price of $35.14.

Insider Activity

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $35.54, for a total value of $177,700.00. Following the completion of the sale, the chief executive officer now directly owns 392,152 shares in the company, valued at $13,937,082.08. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ira Liran sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now owns 853,729 shares in the company, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,270 shares of company stock valued at $4,309,019. Corporate insiders own 34.20% of the company's stock.

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.