Moran Wealth Management LLC Acquires 5,517 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Moran Wealth Management LLC boosted its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 43.5% in the third quarter, HoldingsChannel reports. The fund owned 18,204 shares of the company’s stock after acquiring an additional 5,517 shares during the period. Moran Wealth Management LLC’s holdings in Vita Coco were worth $515,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COCO. CWM LLC grew its stake in shares of Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Vita Coco by 32.3% in the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after acquiring an additional 919 shares in the last quarter. Arizona State Retirement System boosted its holdings in Vita Coco by 9.5% in the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after acquiring an additional 960 shares in the last quarter. US Bancorp DE grew its stake in shares of Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after acquiring an additional 1,178 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum increased their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $36.12 on Friday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.05. The company has a market cap of $2.05 billion, a P/E ratio of 37.03, a PEG ratio of 2.32 and a beta of 0.22. The stock’s fifty day moving average price is $30.67 and its 200-day moving average price is $28.15.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 27,176 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the sale, the director now owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This represents a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the transaction, the chief executive officer now owns 452,452 shares in the company, valued at $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,425 shares of company stock worth $1,669,873 over the last quarter. Company insiders own 34.20% of the company’s stock.

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.