Ameriprise Financial Inc. Sells 16,626 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Ameriprise Financial Inc. lessened its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,726,769 shares of the company’s stock after selling 16,626 shares during the period. Ameriprise Financial Inc. owned 3.04% of Vita Coco worth $63,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco in the fourth quarter valued at approximately $66,000. Finally, Summit Investment Advisors Inc. increased its stake in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a research note on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI increased their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Vita Coco Price Performance

Shares of COCO opened at $33.27 on Friday. The firm has a 50 day simple moving average of $32.29 and a two-hundred day simple moving average of $34.50. The Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The company has a market cap of $1.89 billion, a P/E ratio of 33.61, a P/E/G ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same period in the prior year, the company earned $0.24 EPS. Vita Coco’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the stock in a transaction dated 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 approximately $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael Kirban sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares in the company, valued at approximately $58,206,715. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,358 shares of company stock worth $2,865,456 in the last three months. 34.20% of the stock is owned by corporate insiders.

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.