Oppenheimer & Co. Inc. Purchases Shares of 11,549 Vita Coco Company, Inc. $COCO

Oppenheimer & Co. Inc. purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 11,549 shares of the company’s stock, valued at approximately $612,000.

Several other hedge funds and other institutional investors also recently modified their holdings of COCO. Oppenheimer Asset Management Inc. bought a new position in shares of Vita Coco in the fourth quarter worth approximately $609,000. Teachers Retirement System of The State of Kentucky lifted its position in Vita Coco by 25.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,559 shares of the company’s stock valued at $1,514,000 after purchasing an additional 5,737 shares during the last quarter. Vanguard Group Inc. grew its stake in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after buying an additional 237,510 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vita Coco by 33.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,652 shares of the company’s stock worth $1,095,000 after buying an additional 5,171 shares in the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Vita Coco by 10.0% in the 4th quarter. Moran Wealth Management LLC now owns 22,621 shares of the company’s stock worth $1,199,000 after buying an additional 2,062 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

COCO stock opened at $71.60 on Friday. The company has a market capitalization of $4.09 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. Vita Coco Company, Inc. has a one year low of $30.54 and a one year high of $72.98. The company’s 50 day moving average price is $53.54 and its two-hundred day moving average price is $51.94.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company had revenue of $179.77 million during the quarter, compared to analysts’ expectations of $148.39 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 37.4% on a year-over-year basis. On average, research analysts predict that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Morgan Stanley set a $65.00 target price on Vita Coco in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Evercore reiterated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Insiders Place Their Bets

In other news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $48.93, for a total value of $190,827.00. Following the transaction, the director owned 586,566 shares in the company, valued at approximately $28,700,674.38. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 20,544 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $59.35, for a total value of $1,219,286.40. Following the completion of the sale, the chief executive officer directly owned 298,484 shares of the company’s stock, valued at approximately $17,715,025.40. This trade represents a 6.44% 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 a total of 429,800 shares of company stock valued at $24,354,302 over the last three months. 32.30% of the stock is currently owned by company insiders.

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.