Syon Capital LLC Takes $113.93 Million Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Syon Capital LLC purchased a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,441,770 shares of the company’s stock, valued at approximately $113,931,000. Vita Coco accounts for approximately 8.2% of Syon Capital LLC’s portfolio, making the stock its 2nd biggest holding. Syon Capital LLC owned approximately 7.82% of Vita Coco at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in COCO. FMR LLC boosted its position in shares of Vita Coco by 72.3% during the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after acquiring an additional 1,000,408 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Vita Coco by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,955,075 shares of the company’s stock valued at $50,910,000 after buying an additional 108,844 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Vita Coco by 41.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,042,656 shares of the company’s stock worth $27,151,000 after purchasing an additional 304,659 shares during the period. abrdn plc purchased a new position in Vita Coco in the 4th quarter worth approximately $22,321,000. Finally, 12 West Capital Management LP bought a new stake in shares of Vita Coco in the 3rd quarter worth approximately $9,114,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COCO. The Goldman Sachs Group dropped their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Piper Sandler boosted their target price on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

Vita Coco Stock Performance

Shares of COCO stock traded up $0.64 during mid-day trading on Friday, hitting $24.75. The company’s stock had a trading volume of 310,457 shares, compared to its average volume of 692,081. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29. The business has a 50-day moving average price of $24.27 and a 200 day moving average price of $25.07. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.93 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. Vita Coco’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. Equities research analysts predict that The Vita Coco Company, Inc. will post 0.92 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the sale, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ira Liran sold 2,780 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.04, for a total value of $69,611.20. Following the completion of the transaction, the director now owns 992,644 shares of the company’s stock, valued at $24,855,805.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,353 shares of company stock worth $1,309,536. 51.10% of the stock is owned by insiders.

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.