Westfield Capital Management Co. LP Boosts Stake in Vita Coco Company, Inc. $COCO

Westfield Capital Management Co. LP raised its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,073,610 shares of the company’s stock after acquiring an additional 10,849 shares during the period. Westfield Capital Management Co. LP’s holdings in Vita Coco were worth $56,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Vita Coco by 130.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 547,886 shares of the company’s stock worth $29,043,000 after purchasing an additional 310,445 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Vita Coco by 234.1% during the fourth quarter. BNP Paribas Financial Markets now owns 89,444 shares of the company’s stock worth $4,741,000 after purchasing an additional 62,675 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in Vita Coco during the fourth quarter worth about $339,000. Norges Bank bought a new stake in Vita Coco during the fourth quarter worth about $1,151,000. Finally, Savant Capital LLC bought a new stake in Vita Coco during the fourth quarter worth about $214,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vita Coco news, CEO Martin Roper sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $50.11, for a total transaction of $1,252,750.00. Following the transaction, the chief executive officer owned 298,484 shares in the company, valued at approximately $14,957,033.24. This represents a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $58.65, for a total value of $3,519,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at $3,396,421.50. This trade represents a 50.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 435,306 shares of company stock worth $26,054,832. Company insiders own 32.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COCO. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Jefferies Financial Group boosted their target price on 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 boosted their target price on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Evercore reissued an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $70.43.

Vita Coco Price Performance

COCO opened at $74.09 on Friday. The business has a 50 day simple moving average of $62.07 and a two-hundred day simple moving average of $56.88. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 1.77 and a beta of 0.74. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $79.70.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The business 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 quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

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.