Charles Schwab Investment Management Inc. Boosts Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Charles Schwab Investment Management Inc. raised its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,370 shares of the company’s stock after purchasing an additional 1,329 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.57% of Vita Coco worth $12,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after buying an additional 46,385 shares in the last quarter. Woodson Capital Management LP acquired a new stake in shares of Vita Coco in the third quarter valued at $19,224,000. Lord Abbett & CO. LLC grew its stake in shares of Vita Coco by 21.1% in the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after buying an additional 80,128 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Vita Coco by 94.2% in the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock valued at $875,000 after buying an additional 11,500 shares in the last quarter. Finally, TT International Asset Management LTD grew its stake in shares of Vita Coco by 1,643.7% in the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after buying an additional 170,797 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COCO. Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday, January 27th. The Goldman Sachs Group boosted their target price on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Three research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 approximately $3,076,390.52. The trade was a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the sale, the chairman now owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,410 shares of company stock worth $3,017,811 over the last quarter. 34.20% of the stock is owned by corporate insiders.

Vita Coco Stock Down 0.2 %

COCO stock opened at $35.51 on Friday. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The stock’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $33.63. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

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.