Raymond James Financial Inc. Purchases New Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Raymond James Financial Inc. acquired a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 216,347 shares of the company's stock, valued at approximately $7,985,000. Raymond James Financial Inc. owned approximately 0.38% of Vita Coco as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp raised its holdings in shares of Vita Coco by 41.4% during the 3rd quarter. Stifel Financial Corp now owns 17,220 shares of the company's stock valued at $487,000 after purchasing an additional 5,041 shares in the last quarter. Barclays PLC raised its holdings in Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company's stock valued at $1,969,000 after buying an additional 46,385 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock worth $29,494,000 after buying an additional 101,823 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Vita Coco by 21.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock worth $13,034,000 after acquiring an additional 80,128 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 acquiring an additional 360 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 1,723 shares of Vita Coco stock in a transaction dated 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 in the company, valued at approximately $32,519,411.58. The trade was a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 700 shares of the company'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 directly owns 104,108 shares in the company, 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 have sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on COCO. Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.57.

Vita Coco Stock Up 1.5 %

COCO stock opened at $31.29 on Wednesday. The Vita Coco Company, Inc. has a twelve month low of $23.05 and a twelve month high of $40.32. The company has a market cap of $1.78 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The business's 50-day simple moving average is $33.20 and its 200 day simple moving average is $34.16.

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.

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