Thornburg Investment Management Inc. Purchases Shares of 48,173 Vita Coco Company, Inc. $COCO

Thornburg Investment Management Inc. purchased a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, HoldingsChannel reports. The firm purchased 48,173 shares of the company’s stock, valued at approximately $3,186,000.

Several other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Vita Coco by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after purchasing an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Vita Coco in the second quarter valued at about $9,627,000. Cerity Partners LLC acquired a new stake in shares of Vita Coco in the second quarter valued at about $645,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Vita Coco during the second quarter worth about $2,990,000. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other news, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total value of $603,777.25. Following the completion of the sale, the insider owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the transaction, the director owned 476,421 shares in the company, valued at $37,703,957.94. The trade was a 16.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 351,945 shares of company stock valued at $28,007,266. 12.90% of the stock is currently owned by company insiders.

Vita Coco Trading Up 0.1%

COCO stock opened at $61.71 on Friday. The firm has a market cap of $3.54 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.16 and a beta of 0.77. The stock has a 50-day moving average price of $68.72 and a 200-day moving average price of $64.16. Vita Coco Company, Inc. has a 1-year low of $34.85 and a 1-year high of $85.83.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The company had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on COCO shares. The Goldman Sachs Group set a $90.00 price objective on Vita Coco and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Citigroup restated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Finally, Morgan Stanley upped their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $77.71.

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.