Teachers Retirement System of The State of Kentucky Boosts Holdings in Vita Coco Company, Inc. $COCO

Teachers Retirement System of The State of Kentucky increased its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,519 shares of the company’s stock after purchasing an additional 8,960 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Vita Coco worth $1,797,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco during the third quarter valued at approximately $62,815,000. Wellington Management Group LLP increased its position in shares of Vita Coco by 232.2% during the third 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 in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Vita Coco during the fourth quarter valued at approximately $73,242,000. Finally, Millennium Management LLC raised its holdings in Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after acquiring an additional 762,731 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vita Coco

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the sale, the insider owned 59,085 shares of the company’s stock, valued at $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 596,950 shares of company stock valued at $43,711,695. 12.90% of the stock is owned by company insiders.

Vita Coco Price Performance

NASDAQ COCO opened at $74.75 on Thursday. The business’s fifty day moving average price is $75.54 and its 200-day moving average price is $61.50. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 1.77 and a beta of 0.77. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate 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 return on equity of 25.43% and a net margin of 12.59%.Vita Coco’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Equities research analysts anticipate that Vita Coco Company, Inc. will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COCO. Piper Sandler upped their price objective on Vita Coco from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley set a $65.00 price target on Vita Coco in a research note on Thursday, April 30th. Jefferies Financial Group upped their price target on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $71.00.

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.