Loomis Sayles & Co. L P Boosts Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Loomis Sayles & Co. L P increased its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,421,999 shares of the company’s stock after acquiring an additional 193,420 shares during the period. Loomis Sayles & Co. L P’s holdings in Vita Coco were worth $52,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares during the last quarter. Moran Wealth Management LLC increased its position in shares of Vita Coco by 4.8% during the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after purchasing an additional 871 shares during the last quarter. West Coast Financial LLC lifted its stake in shares of Vita Coco by 1.2% in the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after purchasing an additional 1,109 shares during the period. Summit Creek Advisors LLC boosted its holdings in shares of Vita Coco by 0.3% in the fourth quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company’s stock worth $14,837,000 after buying an additional 1,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 valued at $12,009,000 after buying an additional 1,329 shares during the period. 88.49% of the stock is owned by institutional investors.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now directly owns 814,302 shares in the company, valued at $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total transaction of $152,355.20. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at approximately $3,914,460.80. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,410 shares of company stock valued at $3,017,811. Insiders own 34.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America lifted their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Stephens reaffirmed an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their price target 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $34.57.

Vita Coco Trading Down 5.1 %

NASDAQ COCO opened at $29.93 on Friday. The Vita Coco Company, Inc. has a 12 month low of $23.00 and a 12 month high of $40.32. The stock’s 50 day moving average is $36.21 and its 200 day moving average is $33.87. The stock has a market cap of $1.71 billion, a PE ratio of 30.23, a P/E/G ratio of 2.25 and a beta of 0.34.

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.