Segall Bryant & Hamill LLC Reduces Stock Position in Vita Coco Company, Inc. $COCO

Segall Bryant & Hamill LLC cut its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,256 shares of the company’s stock after selling 7,637 shares during the period. Segall Bryant & Hamill LLC’s holdings in Vita Coco were worth $7,055,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COCO. Bank of America Corp DE increased its holdings in shares of Vita Coco by 47.2% in the 1st quarter. Bank of America Corp DE now owns 401,469 shares of the company’s stock valued at $19,234,000 after acquiring an additional 128,709 shares during the last quarter. California State Teachers Retirement System lifted its stake in Vita Coco by 25.2% during the first quarter. California State Teachers Retirement System now owns 57,284 shares of the company’s stock worth $2,744,000 after purchasing an additional 11,515 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Vita Coco by 31.4% during the first quarter. Maverick Capital Ltd. now owns 76,933 shares of the company’s stock worth $3,686,000 after purchasing an additional 18,372 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Vita Coco by 397.5% in the first quarter. Quantinno Capital Management LP now owns 61,682 shares of the company’s stock valued at $2,955,000 after purchasing an additional 49,283 shares in the last quarter. Finally, Castleark Management LLC boosted its holdings in Vita Coco by 167.0% in the first quarter. Castleark Management LLC now owns 97,610 shares of the company’s stock valued at $4,676,000 after purchasing an additional 61,050 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 96,158 shares of Vita Coco stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the transaction, the director directly owned 476,421 shares in the company, valued at approximately $37,703,957.94. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the sale, the director owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This trade represents a 0.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 414,406 shares of company stock valued at $32,558,669. Company insiders own 12.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COCO. The Goldman Sachs Group set a $90.00 price objective on shares of Vita Coco and gave the stock a “buy” rating in a report on Thursday, July 23rd. Piper Sandler increased their target price on shares of Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Morgan Stanley upped their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.71.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $65.94 on Monday. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $85.83. The stock has a 50 day moving average of $74.30 and a two-hundred day moving average of $62.88. The stock has a market cap of $3.78 billion, a P/E ratio of 36.43, a P/E/G ratio of 1.24 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. As a group, research analysts predict that Vita Coco Company, Inc. will post 1.96 earnings per share for the current 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.