Vanguard Group Inc. Buys 97,233 Shares of Vita Coco Company, Inc. $COCO

Vanguard Group Inc. raised its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,912,074 shares of the company’s stock after buying an additional 97,233 shares during the period. Vanguard Group Inc. owned about 5.11% of Vita Coco worth $123,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after acquiring an additional 298 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Vita Coco by 3.2% in the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock valued at $435,000 after purchasing an additional 376 shares during the last quarter. Cim LLC increased its position in shares of Vita Coco by 3.8% during the second quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after buying an additional 514 shares during the period. MAI Capital Management bought a new position in Vita Coco during the second quarter worth $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after buying an additional 1,174 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.6%

NASDAQ COCO opened at $54.12 on Wednesday. The company has a market cap of $3.09 billion, a P/E ratio of 45.86, a PEG ratio of 1.71 and a beta of 0.37. The company has a fifty day simple moving average of $54.64 and a 200 day simple moving average of $47.43. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $59.88.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COCO shares. Wells Fargo & Company increased their price target on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Piper Sandler increased their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.88.

Insider Activity

In other Vita Coco news, Director Jane Cecil Morreau sold 15,000 shares of Vita Coco stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total transaction of $808,650.00. Following the transaction, the director directly owned 17,179 shares of the company’s stock, valued at $926,119.89. The trade was a 46.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the completion of the sale, the director owned 572,579 shares of the company’s stock, valued at approximately $32,436,600.35. This represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 72,800 shares of company stock worth $4,052,956 over the last 90 days. 34.20% of the stock is currently owned by corporate 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.