Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,434 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 25.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,027 shares of the company’s stock after buying an additional 1,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Vita Coco were worth $199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC raised its position in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC grew its stake in Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after purchasing an additional 787 shares during the period. Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares in the last quarter. Comerica Bank lifted its stake in Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Vita Coco during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Up 0.7 %

Vita Coco stock opened at $36.31 on Monday. The firm’s fifty day moving average price is $32.29 and its two-hundred day moving average price is $28.90. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 2.39 and a beta of 0.31. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.20.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. On average, research analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares of the company’s stock, valued at approximately $31,849,593.16. This represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,951 shares of company stock worth $3,021,869. 34.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on COCO. Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

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.