Harbor Capital Advisors Inc. Raises Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Harbor Capital Advisors Inc. raised its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 143.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 341,506 shares of the company’s stock after buying an additional 200,940 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.60% of Vita Coco worth $9,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Champlain Investment Partners LLC purchased a new position in shares of Vita Coco during the first quarter worth about $18,210,000. Victory Capital Management Inc. grew its stake in Vita Coco by 1,310.1% in the 2nd quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after buying an additional 403,192 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Vita Coco in the 2nd quarter worth $9,859,000. Vanguard Group Inc. raised its position in shares of Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in shares of Vita Coco by 123.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company’s stock worth $9,487,000 after acquiring an additional 188,060 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research analyst reports. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Wells Fargo & Company boosted their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America increased their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group cut their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 1,400 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $30.04, for a total transaction of $42,056.00. Following the transaction, the chief operating officer now owns 121,900 shares in the company, valued at $3,661,876. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 4,949 shares of company stock worth $148,585. Company insiders own 34.20% of the company’s stock.

Vita Coco Stock Performance

Shares of COCO stock opened at $31.97 on Friday. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $32.98. The company has a market capitalization of $1.82 billion, a P/E ratio of 32.29, a PEG ratio of 2.45 and a beta of 0.23. The stock has a 50 day moving average price of $27.98 and a two-hundred day moving average price of $27.13.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 27.64%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. As a group, equities analysts predict that The Vita Coco Company, Inc. will post 1 earnings per share for the current year.

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.