4,441,770 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Acquired by Syon Capital LLC

Syon Capital LLC purchased a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, Holdings Channel.com reports. The fund purchased 4,441,770 shares of the company’s stock, valued at approximately $113,931,000. Vita Coco comprises about 8.2% of Syon Capital LLC’s portfolio, making the stock its 2nd largest holding. Syon Capital LLC owned approximately 0.08% of Vita Coco at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COCO. Headinvest LLC acquired a new position in Vita Coco in the 3rd quarter worth $29,000. Federated Hermes Inc. raised its stake in 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 acquiring an additional 5,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Vita Coco by 95.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock worth $202,000 after acquiring an additional 3,776 shares during the period. D.A. Davidson & CO. acquired a new stake in Vita Coco during the third quarter worth about $227,000. Finally, Arizona State Retirement System acquired a new stake in Vita Coco during the third quarter worth about $230,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COCO. The Goldman Sachs Group dropped their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. William Blair cut shares of Vita Coco from an “outperform” rating to a “market perform” 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 target price for the company in a research report on Thursday, February 29th. Piper Sandler upped their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.71.

Insider Activity

In other news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. In other news, Director Ira Liran sold 13,998 shares of Vita Coco stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the business’s stock in a transaction dated 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 in the company, valued at $16,040,717.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,353 shares of company stock worth $1,309,536. Corporate insiders own 51.10% of the company’s stock.

Vita Coco Trading Up 2.7 %

COCO traded up $0.64 during trading on Friday, hitting $24.75. The stock had a trading volume of 310,457 shares, compared to its average volume of 692,081. The firm has a market cap of $1.40 billion, a PE ratio of 30.14, a P/E/G ratio of 1.93 and a beta of 0.16. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $33.29. The company has a 50 day simple moving average of $24.27 and a 200-day simple moving average of $25.07.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. As a group, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

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.