The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Bought by Barclays PLC

Barclays PLC grew its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 200.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,504 shares of the company’s stock after purchasing an additional 46,385 shares during the quarter. Barclays PLC’s holdings in Vita Coco were worth $1,969,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Vita Coco by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 151,840 shares of the company’s stock worth $4,229,000 after acquiring an additional 17,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted 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 valued at $1,089,000 after purchasing an additional 7,615 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Vita Coco by 20.1% in the 2nd quarter. Principal Financial Group Inc. now owns 37,232 shares of the company’s stock valued at $1,037,000 after purchasing an additional 6,228 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Vita Coco by 271.4% during the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after buying an additional 1,900 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Vita Coco by 16.1% during the 2nd quarter. Rhumbline Advisers now owns 54,654 shares of the company’s stock worth $1,522,000 after buying an additional 7,583 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Performance

Vita Coco stock opened at $36.34 on Friday. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $37.88. The stock’s 50 day moving average price is $34.32 and its 200 day moving average price is $29.67. The firm has a market capitalization of $2.06 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.99% and a return on equity of 26.49%. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 27,176 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares in the company, valued at approximately $31,849,593.16. This represents a 2.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $30.04, for a total transaction of $27,186.20. Following the sale, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at $3,703,932. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,173 shares of company stock valued at $5,392,026 in the last ninety days. Insiders own 34.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on COCO. Craig Hallum boosted their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America boosted their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $32.14.

Vita Coco Profile

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.