Night Squared LP Makes New Investment in Vita Coco Company, Inc. $COCO

Night Squared LP bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 122,268 shares of the company’s stock, valued at approximately $5,193,000. Vita Coco accounts for 1.9% of Night Squared LP’s holdings, making the stock its 27th largest holding. Night Squared LP owned approximately 0.21% of Vita Coco as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its position in Vita Coco by 10.3% during the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock worth $21,703,000 after acquiring an additional 47,632 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Vita Coco in the third quarter valued at approximately $45,135,000. Hussman Strategic Advisors Inc. acquired a new stake in Vita Coco in the third quarter valued at approximately $2,230,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Vita Coco during the third quarter valued at approximately $821,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco during the third quarter worth $62,815,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “sell” rating in a research note on Saturday, February 21st. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Morgan Stanley boosted their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Wells Fargo & Company upped their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, The Goldman Sachs Group raised their target price on Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Vita Coco Trading Up 0.6%

COCO stock opened at $58.35 on Friday. The firm has a 50 day simple moving average of $54.93 and a 200-day simple moving average of $48.38. The company has a market capitalization of $3.33 billion, a P/E ratio of 49.45, a PEG ratio of 1.83 and a beta of 0.37. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $59.88.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s revenue was up .4% on a year-over-year basis. On average, research analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Activity at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the transaction, the director owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $56.65, for a total value of $1,699,500.00. Following the completion of the transaction, the director owned 572,579 shares of the company’s stock, valued at $32,436,600.35. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 122,800 shares of company stock worth $6,698,956 over the last quarter. Company insiders own 32.30% of the company’s stock.

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.