Pictet Asset Management Holding SA Sells 178,587 Shares of Vita Coco Company, Inc. $COCO

Pictet Asset Management Holding SA decreased its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 70.2% in the first quarter, HoldingsChannel.com reports. The fund owned 75,821 shares of the company’s stock after selling 178,587 shares during the period. Pictet Asset Management Holding SA’s holdings in Vita Coco were worth $3,633,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in COCO. Wasatch Advisors LP boosted its holdings in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after acquiring an additional 1,637,437 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco in the 3rd quarter worth about $62,815,000. Wellington Management Group LLP lifted its position in shares of Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Vita Coco during the 4th quarter valued at about $73,242,000. Finally, Millennium Management LLC increased its position in shares of Vita Coco by 164.7% during the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares during the period. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total value of $2,550,000.00. Following the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,691,762.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief executive officer owned 298,484 shares in the company, valued at $14,924,200. The trade was a 7.73% 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 have sold a total of 705,306 shares of company stock valued at $49,154,273 over the last ninety days. Company insiders own 32.30% of the company’s stock.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $66.16 on Friday. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $85.83. The stock has a market cap of $3.78 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The firm has a 50-day moving average of $73.61 and a 200 day moving average of $60.44.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The business had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. Vita Coco’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Research analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COCO has been the subject of a number of research reports. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup reiterated a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Jefferies Financial Group raised their target price on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Evercore restated an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.