abrdn plc Buys Shares of 870,210 The Vita Coco Company, Inc. (NASDAQ:COCO)

abrdn plc bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 870,210 shares of the company’s stock, valued at approximately $22,321,000.

Other institutional investors also recently bought and sold shares of the company. Headinvest LLC acquired a new stake in Vita Coco in the third quarter valued at approximately $29,000. Federated Hermes Inc. boosted its stake in Vita Coco by 1,237.2% in the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock valued at $167,000 after acquiring an additional 5,926 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vita Coco by 95.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after buying an additional 3,776 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Vita Coco in the third quarter worth $227,000. Finally, Arizona State Retirement System purchased a new position in shares of Vita Coco in the third quarter worth $230,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COCO. Piper Sandler raised their price target 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. The Goldman Sachs Group decreased their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Thursday, February 29th. William Blair cut shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.71.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the transaction, the director now owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total transaction of $350,229.96. Following the transaction, the director now owns 645,942 shares in the company, valued at $16,161,468.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,353 shares of company stock valued at $1,309,536. Corporate insiders own 51.10% of the company’s stock.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $23.61 on Wednesday. The firm has a fifty day moving average price of $24.18 and a 200 day moving average price of $25.08. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $33.29. The stock has a market cap of $1.34 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.87 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $99.63 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts expect that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

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.