Bank of New York Mellon Corp Purchases 1,650 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Bank of New York Mellon Corp boosted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,784 shares of the company’s stock after purchasing an additional 1,650 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.22% of Vita Coco worth $4,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of COCO. GAMMA Investing LLC increased its stake in Vita Coco by 84.9% in the 4th 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. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC purchased a new position in Vita Coco in the 4th quarter worth approximately $66,000. Quest Partners LLC raised its position in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after acquiring an additional 1,434 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COCO. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 27th. The Goldman Sachs Group increased their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Bank of America boosted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company reduced their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now owns 94,108 shares in the company, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the sale, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,410 shares of company stock worth $2,482,611. 34.20% of the stock is owned by corporate insiders.

Vita Coco Stock Performance

COCO stock opened at $35.26 on Tuesday. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The business’s 50 day moving average price is $36.21 and its two-hundred day moving average price is $33.48.

Vita Coco Company 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.