Teacher Retirement System of Texas Sells 11,983 Shares of Vita Coco Company, Inc. $COCO

Teacher Retirement System of Texas decreased its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 22.6% in the third quarter, Holdings Channel.com reports. The firm owned 41,020 shares of the company’s stock after selling 11,983 shares during the quarter. Teacher Retirement System of Texas’ holdings in Vita Coco were worth $1,742,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COCO. MAI Capital Management purchased a new stake in shares of Vita Coco in the 2nd quarter worth approximately $33,000. Mather Group LLC. purchased a new position in Vita Coco in the 3rd quarter worth approximately $54,000. EverSource Wealth Advisors LLC lifted its position in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after acquiring an additional 1,344 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Vita Coco during the 2nd quarter valued at $50,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Vita Coco in the 3rd quarter worth $93,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Stock Down 1.9%

NASDAQ COCO opened at $53.35 on Friday. The company has a 50-day moving average price of $53.61 and a 200-day moving average price of $44.22. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $56.46. The firm has a market capitalization of $3.04 billion, a P/E ratio of 46.39, a PEG ratio of 1.54 and a beta of 0.38.

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

Insider Buying and Selling at Vita Coco

In other news, insider Es Charles Van sold 20,000 shares of Vita Coco stock in a transaction on Monday, November 17th. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the transaction, the insider owned 84,328 shares in the company, valued at $4,216,400. This trade represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Liran sold 33,862 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the sale, the director directly owned 602,579 shares of the company’s stock, valued at approximately $30,291,646.33. The trade was a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 211,421 shares of company stock valued at $10,080,091 over the last three months. Insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley boosted their target price 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. Evercore ISI upped their target price on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Wells Fargo & Company lifted their price target on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.50.

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.