The Vita Coco Company, Inc. (NASDAQ:COCO) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 20.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,232 shares of the company’s stock after acquiring an additional 6,228 shares during the period. Principal Financial Group Inc. owned approximately 0.07% of Vita Coco worth $1,037,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Vita Coco by 24.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 39,096 shares of the company’s stock worth $1,089,000 after purchasing an additional 7,615 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Vita Coco by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 151,840 shares of the company’s stock valued at $4,229,000 after acquiring an additional 17,121 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Vita Coco during the 2nd quarter worth $150,000. Oak Ridge Investments LLC grew its holdings in shares of Vita Coco by 52.5% in the 2nd quarter. Oak Ridge Investments LLC now owns 109,720 shares of the company’s stock worth $3,056,000 after acquiring an additional 37,770 shares during the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Vita Coco during the second quarter valued at $313,000. 88.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vita Coco news, insider Es Charles Van sold 4,372 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $30.00, for a total transaction of $131,160.00. Following the transaction, the insider now directly owns 97,668 shares in the company, valued at $2,930,040. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Vita Coco news, COO Jonathan Burth sold 6,836 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $205,353.44. Following the completion of the sale, the chief operating officer now owns 127,168 shares of the company’s stock, valued at $3,820,126.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Es Charles Van sold 4,372 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the transaction, the insider now directly owns 97,668 shares in the company, valued at approximately $2,930,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,272 shares of company stock worth $548,701. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 2.2 %

Shares of NASDAQ:COCO opened at $26.85 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.19 and a beta of 0.22. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $33.06. The business has a fifty day simple moving average of $26.03 and a 200 day simple moving average of $26.09.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $144.08 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Vita Coco Company, Inc. will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COCO shares. Bank of America boosted their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Jefferies Financial Group reduced their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Stephens reiterated an “overweight” rating and set a $31.00 price target on shares of Vita Coco in a report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

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.