Moran Wealth Management LLC Has $704,000 Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Moran Wealth Management LLC boosted its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 4.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,075 shares of the company’s stock after purchasing an additional 871 shares during the period. Moran Wealth Management LLC’s holdings in Vita Coco were worth $704,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its stake in shares of Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after purchasing an additional 1,178 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares during the last quarter. Quest Partners LLC raised its position in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Vita Coco in the third quarter valued at approximately $1,145,000. Finally, Intech Investment Management LLC bought a new stake in Vita Coco in the third quarter worth approximately $256,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Vita Coco stock opened at $35.33 on Wednesday. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32. The firm has a market capitalization of $2.01 billion, a PE ratio of 35.69, a PEG ratio of 2.25 and a beta of 0.34. The business’s 50-day simple moving average is $36.23 and its 200-day simple moving average is $33.21.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the sale, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at $3,076,390.52. This represents a 9.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 1,723 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total transaction of $68,954.46. Following the transaction, the director now owns 812,579 shares in the company, valued at approximately $32,519,411.58. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,158 shares of company stock valued at $3,256,670 in the last 90 days. 34.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COCO. Wells Fargo & Company cut their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. 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. Finally, The Goldman Sachs Group raised their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

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.