16,043 Shares in Vita Coco Company, Inc. $COCO Acquired by Two Sigma Securities LLC

Two Sigma Securities LLC acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,043 shares of the company’s stock, valued at approximately $1,061,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COCO. BlackRock Inc. purchased a new position in shares of Vita Coco during the 2nd quarter worth $463,654,000. Wasatch Advisors LP grew its holdings in shares of 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 period. Vanguard Group Inc. increased its position in Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after purchasing an additional 237,510 shares during the last quarter. Wellington Management Group LLP raised its stake in Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after purchasing an additional 439,958 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco during the fourth quarter worth about $73,242,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Stock Performance

Shares of COCO stock opened at $58.72 on Tuesday. The firm has a market cap of $3.37 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.16 and a beta of 0.77. The firm’s 50 day moving average price is $68.24 and its 200-day moving average price is $64.22. Vita Coco Company, Inc. has a one year low of $34.85 and a one year high of $85.83.

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

Analyst Ratings Changes

Several research firms have recently weighed in on COCO. Wells Fargo & Company increased their price target on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a report on Wednesday, July 29th. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.71.

Insiders Place Their Bets

In related news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the sale, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $5,930,989.44. Following the transaction, the director directly owned 402,579 shares in the company, valued at approximately $32,335,145.28. The trade was a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 343,900 shares of company stock valued at $27,403,488 over the last ninety days. Insiders own 12.90% of the company’s stock.

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.