PDT Partners LLC Invests $562,000 in Vita Coco Company, Inc. $COCO

PDT Partners LLC purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,500 shares of the company’s stock, valued at approximately $562,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Vita Coco in the 2nd quarter worth about $463,654,000. Wasatch Advisors LP raised its position in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Vita Coco during the fourth quarter valued at about $73,242,000. Finally, Millennium Management LLC grew its holdings in shares of Vita Coco by 164.7% during the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 73,842 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the completion of the sale, the director directly owned 402,579 shares in the company, valued at approximately $32,335,145.28. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $75.05, for a total value of $603,777.25. Following the completion of the transaction, the insider directly owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 351,945 shares of company stock valued at $28,007,266. 12.90% of the stock is currently owned by insiders.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $61.63 on Friday. The company’s 50 day moving average price is $69.16 and its 200-day moving average price is $64.18. Vita Coco Company, Inc. has a 52-week low of $34.26 and a 52-week high of $85.83. The company has a market capitalization of $3.54 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same quarter last year, the firm earned $0.38 earnings per share. Vita Coco’s quarterly revenue was up 28.1% on a year-over-year basis. Analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company increased their price objective on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Evercore lifted their target price on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.71.

About Vita Coco

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.