Westfield Capital Management Co. LP Invests $45.14 Million in Vita Coco Company, Inc. $COCO

Westfield Capital Management Co. LP bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,062,761 shares of the company’s stock, valued at approximately $45,135,000. Westfield Capital Management Co. LP owned about 1.87% of Vita Coco at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of COCO. US Bancorp DE increased its holdings in shares of Vita Coco by 90.4% in the 3rd quarter. US Bancorp DE now owns 8,071 shares of the company’s stock valued at $343,000 after acquiring an additional 3,831 shares during the last quarter. MAI Capital Management increased its stake in Vita Coco by 346.3% in the third quarter. MAI Capital Management now owns 4,079 shares of the company’s stock valued at $173,000 after purchasing an additional 3,165 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares in the last quarter. King Luther Capital Management Corp purchased a new stake in shares of Vita Coco during the 3rd quarter worth approximately $4,292,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Vita Coco by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock valued at $123,676,000 after buying an additional 97,233 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jane Cecil Morreau sold 15,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the completion of the transaction, the director owned 17,179 shares in the company, valued at $926,119.89. This trade represents a 46.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total transaction of $210,288.00. Following the sale, the director directly owned 608,266 shares in the company, valued at approximately $32,797,702.72. This represents a 0.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 72,800 shares of company stock worth $4,052,956. 32.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Morgan Stanley upped their target price on Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore reaffirmed an “outperform” rating and set a $58.00 price target on shares of Vita Coco in a research report on Thursday, February 19th. Finally, Wells Fargo & Company raised their target price on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $54.88.

Vita Coco Stock Performance

COCO stock opened at $57.41 on Friday. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $59.88. The company has a fifty day moving average of $54.52 and a 200-day moving average of $46.76. The stock has a market capitalization of $3.28 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 1.73 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. Vita Coco’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Equities analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.