Wasatch Advisors LP Boosts Stock Holdings in Vita Coco Company, Inc. $COCO

Wasatch Advisors LP grew its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 80.3% in the 1st quarter, HoldingsChannel reports. The firm owned 3,675,489 shares of the company’s stock after buying an additional 1,637,437 shares during the quarter. Wasatch Advisors LP owned about 0.06% of Vita Coco worth $176,093,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP purchased a new position in Vita Coco during the third quarter valued at approximately $45,135,000. Vanguard Group Inc. raised its stake in Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after buying an additional 237,510 shares in the last quarter. Night Squared LP purchased a new stake in Vita Coco during the third quarter worth $5,193,000. King Luther Capital Management Corp lifted its holdings in Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock worth $7,262,000 after buying an additional 35,937 shares during the period. Finally, Maven Securities LTD bought a new stake in Vita Coco during the 3rd quarter valued at $1,062,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Down 10.8%

Shares of COCO opened at $73.63 on Friday. The company has a 50 day moving average of $71.57 and a two-hundred day moving average of $59.95. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $85.83. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The business had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 37.4% on a year-over-year basis. On average, sell-side analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total transaction of $2,550,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,691,762.50. This represents a 40.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the sale, the director owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This trade represents a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 707,306 shares of company stock valued at $49,251,613. 32.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Morgan Stanley set a $65.00 target price on shares of Vita Coco in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Vita Coco Company 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.