The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO) by 31.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,004 shares of the company’s stock after buying an additional 7,330 shares during the period. Principal Financial Group Inc. owned 0.05% of Vita Coco worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Moran Wealth Management LLC boosted its stake in Vita Coco by 7.0% in the 4th quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after buying an additional 619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Vita Coco by 5.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after buying an additional 638 shares during the last quarter. Headinvest LLC acquired a new stake in Vita Coco in the 3rd quarter worth about $29,000. Versor Investments LP boosted its stake in Vita Coco by 9.9% in the 4th quarter. Versor Investments LP now owns 14,086 shares of the company’s stock worth $361,000 after buying an additional 1,274 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Vita Coco in the 4th quarter worth about $60,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vita Coco

In related news, Director John Zupo sold 5,017 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $27.62, for a total transaction of $138,569.54. Following the sale, the director now directly owns 8,247 shares in the company, valued at approximately $227,782.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Vita Coco news, insider Es Charles Van sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $201,268.00. Following the completion of the sale, the insider now owns 97,668 shares in the company, valued at approximately $2,933,946.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Zupo sold 5,017 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total value of $138,569.54. Following the sale, the director now owns 8,247 shares of the company’s stock, valued at approximately $227,782.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,502 shares of company stock worth $814,205. 34.20% of the stock is currently owned by company insiders.

Vita Coco Price Performance

Vita Coco stock opened at $28.27 on Friday. The stock’s 50-day moving average is $27.53 and its 200-day moving average is $25.11. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.23. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $33.29.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. Research analysts anticipate that The Vita Coco Company, Inc. will post 1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

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.