Oppenheimer & Co. Inc. Acquires Shares of 11,549 Vita Coco Company, Inc. $COCO

Oppenheimer & Co. Inc. bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,549 shares of the company’s stock, valued at approximately $612,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Vita Coco by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares during the last quarter. Wasatch Advisors LP increased its holdings in Vita Coco by 3.3% in the 3rd quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock worth $115,917,000 after acquiring an additional 86,541 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after acquiring an additional 224,305 shares during the period. Wellington Management Group LLP raised its stake in Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after acquiring an additional 1,392,678 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco during the third quarter valued at about $62,815,000. 88.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Martin Roper sold 20,544 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $59.35, for a total transaction of $1,219,286.40. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares in the company, valued at $17,715,025.40. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 2,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $66.87, for a total transaction of $133,740.00. Following the completion of the transaction, the insider directly owned 75,691 shares in the company, valued at approximately $5,061,457.17. The trade was a 2.57% 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 ninety days, insiders sold 429,800 shares of company stock worth $24,354,302. Company insiders own 32.30% of the company’s stock.

Vita Coco Stock Up 5.0%

COCO stock opened at $71.60 on Friday. The stock has a 50-day simple moving average of $53.54 and a two-hundred day simple moving average of $51.94. Vita Coco Company, Inc. has a twelve month low of $30.54 and a twelve month high of $72.98. The firm has a market capitalization of $4.09 billion, a PE ratio of 52.26, a PEG ratio of 1.64 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. Vita Coco’s revenue was up 37.4% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on COCO. 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. Jefferies Financial Group upped their price target on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Evercore reiterated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Finally, Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

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.