Thrivent Financial for Lutherans Invests $10.72 Million in The Vita Coco Company, Inc. (NASDAQ:COCO)

Thrivent Financial for Lutherans bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 290,309 shares of the company's stock, valued at approximately $10,715,000. Thrivent Financial for Lutherans owned 0.51% of Vita Coco at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new position in shares of Vita Coco in the fourth quarter worth $462,000. Moran Wealth Management LLC grew its position in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock valued at $704,000 after buying an additional 871 shares in the last quarter. AlphaQuest LLC increased its stake in Vita Coco by 712.3% during the 4th quarter. AlphaQuest LLC now owns 28,382 shares of the company's stock valued at $1,048,000 after buying an additional 24,888 shares during the period. Raymond James Financial Inc. acquired a new position in Vita Coco during the 4th quarter valued at about $7,985,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of Vita Coco during the 4th quarter worth about $790,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares of the company's stock, valued at $58,206,715. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Liran sold 20,235 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now owns 814,302 shares in the company, valued at $32,629,081.14. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock worth $3,017,811 in the last quarter. 34.20% of the stock is owned by company insiders.

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Vita Coco Price Performance

Shares of COCO traded down $3.90 during trading hours on Wednesday, hitting $31.55. 2,932,106 shares of the company were exchanged, compared to its average volume of 558,716. The firm has a fifty day simple moving average of $36.38 and a 200-day simple moving average of $33.91. The company has a market capitalization of $1.80 billion, a PE ratio of 31.87, a PEG 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.

Analyst Upgrades and Downgrades

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

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.