Harbor Capital Advisors Inc. Buys Shares of 19,321 Vita Coco Company, Inc. $COCO

Harbor Capital Advisors Inc. bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,321 shares of the company’s stock, valued at approximately $821,000.

Several other institutional investors have also made changes to their positions in COCO. Invesco Ltd. increased its stake in Vita Coco by 398.5% in the 1st quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock valued at $2,999,000 after buying an additional 78,229 shares during the period. Raymond James Financial Inc. increased its stake in shares of Vita Coco by 4.1% in the first quarter. Raymond James Financial Inc. now owns 225,307 shares of the company’s stock worth $6,906,000 after acquiring an additional 8,960 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Vita Coco by 3.4% during the first quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock worth $13,026,000 after acquiring an additional 13,814 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Vita Coco during the first quarter valued at $748,000. Finally, Trexquant Investment LP acquired a new stake in Vita Coco during the first quarter valued at $1,883,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COCO has been the topic of several research reports. Morgan Stanley upped their target price on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Jefferies Financial Group increased their price objective on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 22nd. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Finally, Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

Vita Coco Stock Up 0.3%

Shares of Vita Coco stock opened at $53.56 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 46.57, a PEG ratio of 1.95 and a beta of 0.37. The stock has a 50 day moving average price of $48.11 and a two-hundred day moving average price of $41.13. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $55.29.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity

In other news, CEO Martin Roper sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $42.91, for a total value of $643,650.00. Following the sale, the chief executive officer directly owned 227,515 shares of the company’s stock, valued at approximately $9,762,668.65. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $45.70, for a total value of $1,371,000.00. Following the transaction, the chairman directly owned 1,499,049 shares of the company’s stock, valued at $68,506,539.30. This represents a 1.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 420,220 shares of company stock worth $19,289,112. Insiders own 32.30% of the company’s stock.

Vita Coco Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.