Bank of New York Mellon Corp Raises Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Bank of New York Mellon Corp grew its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 125,784 shares of the company’s stock after buying an additional 1,650 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vita Coco were worth $4,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings in Vita Coco by 12.9% in the fourth quarter. New York State Common Retirement Fund now owns 341,853 shares of the company’s stock worth $12,618,000 after purchasing an additional 39,008 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Vita Coco during the 4th quarter valued at $66,000. Principal Financial Group Inc. boosted its stake in shares of Vita Coco by 15.9% in the 4th quarter. Principal Financial Group Inc. now owns 43,288 shares of the company’s stock worth $1,598,000 after buying an additional 5,940 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Vita Coco in the fourth quarter worth $220,000. Finally, Bleakley Financial Group LLC increased its position in Vita Coco by 17.5% during the fourth quarter. Bleakley Financial Group LLC now owns 16,319 shares of the company’s stock valued at $602,000 after acquiring an additional 2,425 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on COCO shares. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research note on Monday, January 27th. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $35.14.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now directly owns 814,302 shares in the company, valued at $32,629,081.14. This represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jonathan Burth sold 700 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.25, for a total transaction of $28,175.00. Following the sale, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,410 shares of company stock valued at $2,482,611 over the last three months. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 1.7 %

NASDAQ COCO opened at $35.26 on Tuesday. The Vita Coco Company, Inc. has a 12 month low of $23.00 and a 12 month high of $40.32. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.25 and a beta of 0.34. The company’s 50 day moving average is $36.21 and its two-hundred day moving average is $33.48.

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.