Federated Hermes Inc. Reduces Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Federated Hermes Inc. cut its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 12.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,582 shares of the company’s stock after selling 823 shares during the quarter. Federated Hermes Inc.’s holdings in Vita Coco were worth $143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after purchasing an additional 1,000,408 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Vita Coco by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock valued at $50,910,000 after buying an additional 108,844 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Vita Coco by 41.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock valued at $27,151,000 after buying an additional 304,659 shares during the period. 12 West Capital Management LP purchased a new stake in shares of Vita Coco in the third quarter worth about $9,114,000. Finally, JW Asset Management LLC acquired a new stake in Vita Coco during the third quarter worth about $9,000,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on COCO shares. William Blair lowered Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Thursday, February 29th. The Goldman Sachs Group dropped their target price on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, Piper Sandler upped their price target on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

Vita Coco Trading Up 0.2 %

NASDAQ:COCO opened at $26.51 on Monday. The firm has a market cap of $1.50 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.01 and a beta of 0.18. The stock has a 50 day moving average of $24.76 and a two-hundred day moving average of $25.02. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Vita Coco had a net margin of 10.93% and a return on equity of 26.99%. The firm had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. During the same period last year, the firm posted $0.12 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts forecast that The Vita Coco Company, Inc. will post 1.02 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Ira Liran sold 13,998 shares of Vita Coco 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 owns 645,942 shares of the company’s stock, valued at approximately $16,161,468.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the transaction, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,353 shares of company stock valued at $1,309,536. 51.10% of the stock is currently owned by insiders.

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.