Vita Coco Company, Inc. $COCO Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 73.9% during the first quarter, Holdings Channel reports. The fund owned 253,362 shares of the company’s stock after purchasing an additional 107,684 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vita Coco were worth $12,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COCO. Wasatch Advisors LP grew its position in shares of Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares in the last quarter. Wellington Management Group LLP boosted its stake in Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after acquiring an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Vita Coco during the 4th quarter worth $73,242,000. Millennium Management LLC increased its position in shares of Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Vita Coco by 135.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock worth $54,460,000 after purchasing an additional 737,823 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total value of $2,250,000.00. Following the sale, the chief operating officer directly owned 57,910 shares in the company, valued at approximately $4,343,250. The trade was a 34.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 414,406 shares of company stock worth $32,558,669 in the last 90 days. Corporate insiders own 12.90% of the company’s stock.

Vita Coco Stock Down 1.5%

Vita Coco stock opened at $65.94 on Friday. The firm has a 50-day moving average price of $74.30 and a two-hundred day moving average price of $62.83. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 1.26 and a beta of 0.77. Vita Coco Company, Inc. has a 52-week low of $31.79 and a 52-week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business had revenue of $216.15 million during the quarter, compared to analyst estimates of $210.64 million. During the same period in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. Research analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

COCO has been the topic of several research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Evercore upped their price objective on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a report on Wednesday. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.71.

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.