Thrivent Financial for Lutherans Sells 129,165 Shares of Vita Coco Company, Inc. $COCO

Thrivent Financial for Lutherans lessened its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 36.3% in the third quarter, Holdings Channel.com reports. The firm owned 227,120 shares of the company’s stock after selling 129,165 shares during the period. Thrivent Financial for Lutherans’ holdings in Vita Coco were worth $9,646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COCO. Schroder Investment Management Group boosted its position in shares of Vita Coco by 3.2% during the second quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after buying an additional 376 shares during the period. Cim LLC boosted its position in Vita Coco by 3.8% during the 2nd quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after acquiring an additional 514 shares during the last quarter. Moran Wealth Management LLC grew its stake in shares of Vita Coco by 3.9% during the 2nd quarter. Moran Wealth Management LLC now owns 19,376 shares of the company’s stock worth $699,000 after acquiring an additional 731 shares in the last quarter. MAI Capital Management bought a new stake in shares of Vita Coco in the second quarter worth $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after purchasing an additional 1,174 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.00, for a total transaction of $224,488.00. Following the completion of the transaction, the chairman owned 1,479,049 shares of the company’s stock, valued at approximately $65,078,156. The trade was a 0.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Zupo sold 10,000 shares of Vita Coco stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of the transaction, the director owned 12,162 shares in the company, valued at approximately $531,722.64. This represents a 45.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 161,421 shares of company stock worth $8,009,791. 32.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Jefferies Financial Group increased their price objective on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Evercore ISI boosted their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Finally, Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Vita Coco Trading Up 3.6%

Shares of COCO opened at $56.99 on Friday. The stock has a market capitalization of $3.25 billion, a PE ratio of 49.56, a P/E/G ratio of 1.56 and a beta of 0.38. The firm’s 50 day moving average is $53.88 and its 200-day moving average is $44.67. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $58.05.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.