Vanguard Group Inc. Increases Holdings in Vita Coco Company, Inc. $COCO

Vanguard Group Inc. grew its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 3,149,584 shares of the company’s stock after acquiring an additional 237,510 shares during the quarter. Vanguard Group Inc. owned 0.06% of Vita Coco worth $166,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Clearstead Advisors LLC increased its position in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP increased its position in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the last quarter. Finally, CWM LLC increased its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

Shares of COCO opened at $71.60 on Monday. The business has a 50-day moving average of $53.54 and a 200 day moving average of $51.94. Vita Coco Company, Inc. has a fifty-two week low of $30.54 and a fifty-two week high of $72.98. The firm has a market cap of $4.09 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. As a group, research analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

COCO has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $65.00 price objective on Vita Coco in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Buying and Selling

In other Vita Coco news, CMO Jane Prior sold 50,000 shares of Vita Coco stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the completion of the transaction, the chief marketing officer owned 127,399 shares of the company’s stock, valued at $6,741,955.08. The trade was a 28.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Burth sold 60,000 shares of Vita Coco stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $58.65, for a total value of $3,519,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,396,421.50. The trade was a 50.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 429,800 shares of company stock worth $24,354,302 over the last quarter. 34.20% of the stock is owned by corporate insiders.

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.