Vita Coco Company, Inc. $COCO Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 397.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 61,682 shares of the company’s stock after buying an additional 49,283 shares during the quarter. Quantinno Capital Management LP’s holdings in Vita Coco were worth $2,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in shares of Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after buying an additional 237,510 shares in the last quarter. Wellington Management Group LLP grew its position in Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after buying an additional 439,958 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco in the fourth quarter valued at about $73,242,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Vita Coco by 135.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after acquiring an additional 737,823 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COCO. Wells Fargo & Company upped their price target on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Piper Sandler boosted their price objective on shares of Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group lifted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.71.

Vita Coco Stock Down 2.9%

COCO opened at $62.25 on Friday. The firm has a market cap of $3.57 billion, a P/E ratio of 34.39, a PEG ratio of 1.17 and a beta of 0.77. The business’s fifty day simple moving average is $73.01 and its 200 day simple moving average is $63.18. Vita Coco Company, Inc. has a 52 week low of $31.92 and a 52 week high of $85.83.

Vita Coco (NASDAQ:COCO) last released its earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company 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 firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity

In related news, insider Es Charles Van sold 8,045 shares of the firm’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 value of $603,777.25. Following the sale, the insider directly owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’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 transaction of $323,388.00. Following the completion of the sale, the director owned 580,296 shares of the company’s stock, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 385,845 shares of company stock worth $30,559,399 in the last three months. 12.90% of the stock is owned by insiders.

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.