96,822 Shares in Vita Coco Company, Inc. $COCO Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 96,822 shares of the company’s stock, valued at approximately $3,495,000. Quantbot Technologies LP owned approximately 0.17% of Vita Coco as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MAI Capital Management bought a new position in shares of Vita Coco in the second quarter valued at approximately $33,000. Ameritas Advisory Services LLC purchased a new stake in Vita Coco in the 2nd quarter worth approximately $50,000. Militia Capital Partners LP boosted its holdings in Vita Coco by 60.0% in the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock valued at $98,000 after purchasing an additional 1,200 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Vita Coco in the 1st quarter valued at $111,000. Finally, Amitell Capital Pte Ltd purchased a new position in shares of Vita Coco during the 2nd quarter valued at $114,000. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COCO. Morgan Stanley increased their price objective 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. The Goldman Sachs Group upped their target price on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $54.00 in a report on Monday, November 17th. Wells Fargo & Company lifted their price target on Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Vita Coco in a research report on Monday. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $51.88.

Vita Coco Price Performance

NASDAQ:COCO opened at $53.79 on Friday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $55.09. The business has a 50 day moving average of $44.32 and a 200 day moving average of $39.09. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 1.82 and a beta of 0.37.

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

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 50,000 shares of Vita Coco stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total value of $2,100,000.00. Following the transaction, the director directly owned 692,579 shares of the company’s stock, valued at $29,088,318. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $40.77, for a total transaction of $122,310,000.00. Following the completion of the sale, the insider directly owned 4,097,161 shares in the company, valued at approximately $167,041,253.97. This trade represents a 42.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,784,153 shares of company stock worth $156,384,633. Insiders own 32.30% of the company’s stock.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.