Wasatch Advisors LP Increases Stock Holdings in Vita Coco Company, Inc. $COCO

Wasatch Advisors LP boosted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 80.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,675,489 shares of the company’s stock after buying an additional 1,637,437 shares during the period. Wasatch Advisors LP owned approximately 6.44% of Vita Coco worth $176,093,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of COCO. GAMMA Investing LLC increased its position in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the last quarter. CWM LLC lifted its holdings in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC lifted its holdings in shares of Vita Coco by 2.8% in the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after acquiring an additional 236 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after purchasing an additional 298 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Vita Coco by 4.1% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock worth $661,000 after purchasing an additional 489 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Down 10.8%

NASDAQ COCO opened at $73.63 on Friday. The stock has a market cap of $4.20 billion, a PE ratio of 53.74, a PEG ratio of 1.98 and a beta of 0.74. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $85.83. The company’s 50-day moving average price is $71.57 and its 200-day moving average price is $59.95.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share 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%. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, sell-side analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

COCO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price objective on shares of Vita Coco in a research report 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 report on Monday, May 18th. Morgan Stanley set a $65.00 target price on Vita Coco in a research note on Thursday, April 30th. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.43.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 74,232 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the transaction, the director directly owned 309,871 shares in the company, valued at $24,879,542.59. This trade represents a 19.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction 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 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 ninety days, insiders sold 707,306 shares of company stock worth $49,251,613. Insiders own 32.30% of the company’s stock.

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.