Simplicity Solutions LLC Increases Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Simplicity Solutions LLC lifted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 54.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,829 shares of the company’s stock after purchasing an additional 6,295 shares during the quarter. Simplicity Solutions LLC’s holdings in Vita Coco were worth $457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oak Ridge Investments LLC purchased a new position in shares of Vita Coco in the 4th quarter worth approximately $1,922,000. AMI Asset Management Corp boosted its holdings in shares of Vita Coco by 51.4% in the 4th quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock worth $3,126,000 after purchasing an additional 41,374 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Vita Coco by 69.7% in the 3rd quarter. Great Lakes Advisors LLC now owns 124,227 shares of the company’s stock worth $3,235,000 after purchasing an additional 51,043 shares during the period. 12 West Capital Management LP purchased a new position in shares of Vita Coco in the 3rd quarter worth approximately $9,114,000. Finally, Navellier & Associates Inc. purchased a new position in Vita Coco during the 3rd quarter valued at $1,071,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Down 0.7 %

Shares of NASDAQ COCO opened at $23.26 on Friday. The business has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $25.19. The firm has a market cap of $1.32 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 1.91 and a beta of 0.16. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $33.29.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $106.10 million during the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. Vita Coco’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. On average, research analysts expect that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current year.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 6,915 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the transaction, the director now directly owns 985,729 shares of the company’s stock, valued at approximately $24,643,225. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 6,915 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total value of $172,875.00. Following the completion of the sale, the director now owns 985,729 shares of the company’s stock, valued at $24,643,225. The disclosure for this sale can be found here. In the last three months, insiders sold 52,353 shares of company stock valued at $1,309,536. Corporate insiders own 51.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Stephens upgraded Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Thursday, February 29th. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Finally, William Blair cut Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.71.

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.