Great Lakes Advisors LLC Has $1.63 Million Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Great Lakes Advisors LLC reduced its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 20.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 44,219 shares of the company’s stock after selling 11,102 shares during the period. Great Lakes Advisors LLC owned about 0.08% of Vita Coco worth $1,632,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of COCO. GAMMA Investing LLC lifted its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Moran Wealth Management LLC lifted its position in Vita Coco by 4.8% during the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after acquiring an additional 871 shares during the last quarter. West Coast Financial LLC lifted its position in Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after acquiring an additional 1,109 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Vita Coco by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company’s stock worth $12,009,000 after acquiring an additional 1,329 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco during the fourth quarter worth approximately $52,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COCO. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a research report on Monday, January 27th. Wells Fargo & Company lowered their target price 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. The Goldman Sachs Group raised their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Insider Activity at Vita Coco

In related news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $36.37, for a total value of $181,850.00. Following the transaction, the chief executive officer now directly owns 337,152 shares of the company’s stock, valued at $12,262,218.24. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total transaction of $326,900.00. Following the completion of the transaction, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. This trade represents a 9.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,322 shares of company stock valued at $2,698,688 over the last three months. 34.20% of the stock is owned by insiders.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $34.68 on Friday. The company’s 50 day simple moving average is $36.19 and its 200 day simple moving average is $33.35. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32.

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.