B. Riley Wealth Advisors Inc. Invests $305,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

B. Riley Wealth Advisors Inc. bought a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCOFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,710 shares of the company’s stock, valued at approximately $305,000.

A number of other institutional investors also recently bought and sold shares of COCO. FMR LLC raised its stake in Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after purchasing an additional 1,000,408 shares during the period. Ameriprise Financial Inc. increased its position in shares of Vita Coco by 9,796.7% during the third quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock valued at $20,516,000 after acquiring an additional 779,912 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Vita Coco during the first quarter valued at about $5,746,000. Armistice Capital LLC acquired a new stake in shares of Vita Coco during the fourth quarter valued at about $5,721,000. Finally, 12 West Capital Management LP acquired a new stake in shares of Vita Coco during the third quarter valued at about $9,114,000. 42.33% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Down 1.0 %

NASDAQ COCO opened at $24.53 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.19. The Vita Coco Company, Inc. has a 52 week low of $17.96 and a 52 week high of $33.29. The firm has a 50 day moving average of $22.82 and a two-hundred day moving average of $25.58.

Vita Coco (NASDAQ:COCOGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $106.10 million during the quarter, compared to the consensus estimate of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COCO. Piper Sandler lifted their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. TheStreet cut shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. William Blair cut shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. The Goldman Sachs Group dropped their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Finally, Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $29.71.

Get Our Latest Report on Vita Coco

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96. Following the completion of the sale, the director now owns 645,942 shares in the company, valued at approximately $16,161,468.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now owns 645,942 shares in the company, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now 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. Insiders own 51.10% of the company’s stock.

Vita Coco Profile

(Free Report)

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, and the Asia Pacific. The company offers coconut oil and coconut milk; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

See Also

Institutional Ownership by Quarter for Vita Coco (NASDAQ:COCO)

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