New York State Common Retirement Fund Increases Stake in Vita Coco Company, Inc. $COCO

New York State Common Retirement Fund raised its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 511,031 shares of the company’s stock after acquiring an additional 47,632 shares during the quarter. New York State Common Retirement Fund’s holdings in Vita Coco were worth $21,703,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vita Coco in the third quarter valued at $62,815,000. Geode Capital Management LLC increased its holdings in Vita Coco by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock worth $36,759,000 after purchasing an additional 28,448 shares during the period. Balyasny Asset Management L.P. raised its position in Vita Coco by 2.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 701,748 shares of the company’s stock valued at $25,333,000 after purchasing an additional 19,431 shares in the last quarter. Raymond James Financial Inc. raised its position in Vita Coco by 37.8% in the 2nd quarter. Raymond James Financial Inc. now owns 310,363 shares of the company’s stock valued at $11,204,000 after purchasing an additional 85,056 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Vita Coco in the 2nd quarter valued at about $9,627,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on COCO shares. Piper Sandler upped their target price on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Evercore ISI boosted their price target on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Finally, Jefferies Financial Group increased their target price on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Insider Transactions at Vita Coco

In other Vita Coco news, Director John Zupo sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the transaction, the director owned 12,162 shares of the company’s stock, valued at approximately $531,722.64. This trade represents a 45.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Liran sold 33,862 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $50.27, for a total value of $1,702,242.74. Following the completion of the sale, the director directly owned 602,579 shares of the company’s stock, valued at $30,291,646.33. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 211,421 shares of company stock worth $10,080,091. 32.30% of the stock is owned by company insiders.

Vita Coco Trading Down 1.9%

Shares of NASDAQ:COCO opened at $53.35 on Friday. The firm has a 50 day simple moving average of $53.61 and a 200-day simple moving average of $44.22. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $56.46. The company has a market capitalization of $3.04 billion, a PE ratio of 46.39, a P/E/G ratio of 1.54 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. During the same period last year, the business earned $0.32 EPS. Vita Coco’s revenue for the quarter was up 37.2% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.