Y Intercept Hong Kong Ltd Takes Position in Vita Coco Company, Inc. $COCO

Y Intercept Hong Kong Ltd acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,872 shares of the company’s stock, valued at approximately $801,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Vita Coco during the 3rd quarter valued at about $62,815,000. State of Alaska Department of Revenue bought a new stake in shares of Vita Coco during the third quarter worth approximately $93,000. SG Americas Securities LLC raised its stake in shares of Vita Coco by 19.5% during the third quarter. SG Americas Securities LLC now owns 12,313 shares of the company’s stock worth $523,000 after buying an additional 2,006 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in Vita Coco by 6.1% in the third quarter. Moran Wealth Management LLC now owns 20,559 shares of the company’s stock valued at $873,000 after buying an additional 1,183 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in Vita Coco by 20.3% in the third quarter. KLP Kapitalforvaltning AS now owns 9,500 shares of the company’s stock valued at $403,000 after acquiring an additional 1,600 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $54.00 in a report on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. The Goldman Sachs Group boosted their target price on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Evercore ISI upped their price target on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.50.

Vita Coco Price Performance

NASDAQ COCO opened at $55.73 on Tuesday. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $56.46. The firm has a market cap of $3.17 billion, a P/E ratio of 48.46, a P/E/G ratio of 1.51 and a beta of 0.38. The stock’s 50-day moving average is $53.70 and its 200-day moving average is $44.38.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 33,862 shares of the 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 completion of the sale, the director owned 602,579 shares of the company’s stock, valued at $30,291,646.33. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Zupo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the sale, the director owned 12,162 shares in the company, valued at approximately $531,722.64. The trade was a 45.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 211,421 shares of company stock valued at $10,080,091. Corporate insiders own 34.20% of the company’s stock.

Vita Coco 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.