Teachers Retirement System of The State of Kentucky Buys 8,960 Shares of Vita Coco Company, Inc. $COCO

Teachers Retirement System of The State of Kentucky grew its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 31.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,519 shares of the company’s stock after buying an additional 8,960 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Vita Coco were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Vita Coco by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after acquiring an additional 1,174 shares during the period. EverSource Wealth Advisors LLC raised its stake in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the period. Marshall Wace LLP bought a new stake in Vita Coco during the 2nd quarter worth approximately $9,627,000. Cerity Partners LLC purchased a new position in Vita Coco during the second quarter valued at approximately $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in Vita Coco during the second quarter valued at approximately $2,990,000. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

COCO has been the subject of a number of analyst reports. Piper Sandler increased their price objective on shares of Vita Coco from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Vita Coco Price Performance

COCO stock opened at $74.75 on Thursday. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $85.83. The business has a 50 day simple moving average of $75.54 and a two-hundred day simple moving average of $61.50. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 1.77 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.77 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 74,232 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the completion of the transaction, the director owned 309,871 shares of the company’s stock, valued at $24,879,542.59. This represents a 19.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the transaction, the chief operating officer owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. The trade was a 34.13% 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. In the last 90 days, insiders have sold 596,950 shares of company stock valued at $43,711,695. 12.90% of the stock is currently owned by insiders.

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.