Conestoga Capital Advisors LLC Acquires 11,490 Shares of Vita Coco Company, Inc. $COCO

Conestoga Capital Advisors LLC increased its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 31.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,440 shares of the company’s stock after buying an additional 11,490 shares during the period. Conestoga Capital Advisors LLC owned about 0.08% of Vita Coco worth $2,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of COCO. BlackRock Inc. acquired a new stake in Vita Coco in the second quarter valued at approximately $463,654,000. Congress Asset Management Co. increased its holdings in Vita Coco by 2.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company’s stock worth $71,015,000 after buying an additional 33,219 shares during the period. Bank of America Corp DE acquired a new position in Vita Coco during the second quarter valued at $56,722,000. Dimensional Fund Advisors LP boosted its stake in shares of Vita Coco by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock worth $51,422,000 after buying an additional 61,950 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Vita Coco by 35.3% during the 2nd quarter. Algert Global LLC now owns 296,102 shares of the company’s stock worth $19,584,000 after purchasing an additional 77,191 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Morgan Stanley increased their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Wells Fargo & Company cut their price objective on Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. The Goldman Sachs Group set a $90.00 price target on shares of Vita Coco and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $74.12.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $65.47 on Thursday. Vita Coco Company, Inc. has a 1 year low of $39.85 and a 1 year high of $85.83. The company has a market capitalization of $3.74 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.53 and a beta of 0.76. The business has a 50 day moving average price of $57.30 and a 200 day moving average price of $61.73.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. The business had revenue of $243.83 million during the quarter, compared to the consensus estimate of $230.10 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts expect that Vita Coco Company, Inc. will post 2.06 EPS for the current fiscal year.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.