Faithward Advisors LLC Acquires New Position in Vita Coco Company, Inc. $COCO

Faithward Advisors LLC bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,135 shares of the company’s stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COCO. Caitong International Asset Management Co. Ltd grew its position in Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC grew its position in Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP grew its position in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on COCO. Piper Sandler restated an “overweight” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Wednesday, April 29th. Citigroup restated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Insider Activity at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $77.47, for a total value of $302,133.00. Following the completion of the sale, the director directly owned 582,666 shares of the company’s stock, valued at approximately $45,139,135.02. This represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the company’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 transaction of $2,250,000.00. Following the completion of the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. This represents a 34.13% decrease in their ownership of the stock. 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 sold 709,306 shares of company stock valued at $49,266,293. 34.20% of the stock is currently owned by insiders.

Vita Coco Trading Up 2.4%

Shares of NASDAQ:COCO opened at $82.85 on Tuesday. The company has a 50 day moving average of $65.65 and a 200-day moving average of $58.20. The firm has a market cap of $4.73 billion, a P/E ratio of 60.47, a P/E/G ratio of 1.94 and a beta of 0.74. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $83.00.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million during 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%. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. Equities research analysts forecast that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

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.