The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,500 shares of the company’s stock after acquiring an additional 5,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.10% of Vita Coco worth $1,601,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COCO. Charles Schwab Investment Management Inc. lifted its holdings in Vita Coco by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,598 shares of the company’s stock valued at $6,069,000 after acquiring an additional 5,406 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Vita Coco in the fourth quarter valued at approximately $487,000. D.A. Davidson & CO. raised its position in Vita Coco by 203.3% in the fourth quarter. D.A. Davidson & CO. now owns 26,490 shares of the company’s stock valued at $679,000 after purchasing an additional 17,755 shares during the period. Axiom Investors LLC DE raised its position in Vita Coco by 55.7% in the fourth quarter. Axiom Investors LLC DE now owns 124,950 shares of the company’s stock valued at $3,205,000 after purchasing an additional 44,690 shares during the period. Finally, Wasatch Advisors LP raised its position in Vita Coco by 8.5% in the fourth quarter. Wasatch Advisors LP now owns 280,711 shares of the company’s stock valued at $7,200,000 after purchasing an additional 22,030 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on COCO shares. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and cut their target price for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Wells Fargo & Company upped their price objective on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group cut their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America upped their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $30.17.

Insider Transactions at Vita Coco

In other news, insider Es Charles Van sold 4,372 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the sale, the insider now owns 97,668 shares in the company, valued at $2,930,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 34.20% of the company’s stock.

Vita Coco Price Performance

NASDAQ COCO opened at $28.88 on Tuesday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42. The company has a market capitalization of $1.64 billion, a PE ratio of 31.39, a P/E/G ratio of 2.30 and a beta of 0.22. The company has a fifty day moving average of $25.94 and a two-hundred day moving average of $26.28.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The business had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts expect that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current year.

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.