Maverick Capital Ltd. Buys 18,372 Shares of Vita Coco Company, Inc. $COCO

Maverick Capital Ltd. lifted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 31.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 76,933 shares of the company’s stock after buying an additional 18,372 shares during the period. Maverick Capital Ltd.’s holdings in Vita Coco were worth $3,686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COCO. Caitong International Asset Management Co. Ltd raised its stake in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Quarry LP grew its stake in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares in the last quarter. GAMMA Investing LLC increased its holdings in Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after buying an additional 958 shares during the period. Institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction 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 sale, the director owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 74,232 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the sale, the director directly owned 309,871 shares in the company, valued at approximately $24,879,542.59. The trade was a 19.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 546,950 shares of company stock worth $41,211,695. Corporate insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COCO. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company raised their target price on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group lifted their price target on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $77.29.

Vita Coco Trading Up 2.1%

COCO stock opened at $67.35 on Tuesday. The firm has a 50-day moving average price of $75.09 and a 200-day moving average price of $62.53. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $85.83. The stock has a market capitalization of $3.87 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. As a group, equities analysts predict that Vita Coco Company, Inc. will post 1.88 EPS for the current fiscal year.

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.