Teacher Retirement System of Texas Has $1.74 Million Stake in Vita Coco Company, Inc. $COCO

Teacher Retirement System of Texas trimmed its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,020 shares of the company’s stock after selling 11,983 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Vita Coco worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco in the 3rd quarter valued at about $62,815,000. Marshall Wace LLP bought a new position in shares of Vita Coco in the second quarter valued at $9,627,000. Capricorn Fund Managers Ltd bought a new position in Vita Coco in the 2nd quarter valued at about $5,054,000. Cubist Systematic Strategies LLC purchased a new position in shares of Vita Coco during the second quarter valued at approximately $4,385,000. Finally, BNP Paribas Financial Markets boosted its holdings in Vita Coco by 1,181.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 112,291 shares of the company’s stock worth $4,054,000 after acquiring an additional 103,530 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

In other news, Director John Zupo sold 10,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $43.72, for a total transaction of $437,200.00. Following the completion of the transaction, the director directly owned 12,162 shares of the company’s stock, valued at approximately $531,722.64. This represents a 45.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Es Charles Van sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the transaction, the insider directly owned 84,328 shares of the company’s stock, valued at $4,216,400. The trade was a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 211,421 shares of company stock valued at $10,080,091 over the last quarter. Company insiders own 32.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on COCO shares. Piper Sandler increased their target price on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Morgan Stanley boosted their target price on shares of Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Wells Fargo & Company upped their price target on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.50.

Vita Coco Trading Down 1.9%

Shares of Vita Coco stock opened at $53.35 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of 46.39, a price-to-earnings-growth ratio of 1.54 and a beta of 0.38. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $56.46. The business’s 50-day moving average price is $53.61 and its 200-day moving average price is $44.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal 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.