Simplicity Wealth LLC Buys New Shares in The Vita Coco Company, Inc. (NASDAQ:COCO)

Simplicity Wealth LLC bought a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,042 shares of the company’s stock, valued at approximately $367,000.

A number of other large investors have also bought and sold shares of COCO. Headinvest LLC bought a new position in shares of Vita Coco during the 3rd quarter worth about $29,000. Robeco Institutional Asset Management B.V. acquired a new stake in Vita Coco in the fourth quarter valued at approximately $60,000. PNC Financial Services Group Inc. increased its holdings in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after acquiring an additional 3,210 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Vita Coco by 1,237.2% during the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock worth $167,000 after purchasing an additional 5,926 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vita Coco by 95.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after purchasing an additional 3,776 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the sale, the chairman now directly owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96. Following the sale, the director now directly owns 645,942 shares in the company, valued at approximately $16,161,468.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the transaction, the chairman now owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The disclosure for this sale can be found here. Insiders sold 52,353 shares of company stock valued at $1,309,536 in the last three months. Company insiders own 34.20% of the company’s stock.

Vita Coco Trading Down 1.5 %

Shares of COCO traded down $0.40 on Wednesday, reaching $26.23. 266,344 shares of the company’s stock traded hands, compared to its average volume of 684,059. The stock’s 50 day simple moving average is $25.16 and its two-hundred day simple moving average is $25.09. The stock has a market cap of $1.49 billion, a PE ratio of 28.51, a PEG ratio of 1.72 and a beta of 0.18. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $112.00 million for the quarter, compared to analysts’ expectations of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. Analysts forecast that The Vita Coco Company, Inc. will post 1.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on COCO shares. Piper Sandler upped their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group decreased their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.67.

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.