First Trust Advisors LP Raises Holdings in Vita Coco Company, Inc. $COCO

First Trust Advisors LP increased its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 39.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,889 shares of the company’s stock after purchasing an additional 100,791 shares during the period. First Trust Advisors LP’s holdings in Vita Coco were worth $17,146,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after acquiring an additional 237,510 shares during the last quarter. Wasatch Advisors LP increased its position in 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. King Luther Capital Management Corp raised its stake in Vita Coco by 35.6% in the 4th quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock valued at $7,262,000 after purchasing an additional 35,937 shares during the last quarter. Pier Capital LLC acquired a new position in Vita Coco in the 4th quarter valued at about $7,318,000. Finally, Moran Wealth Management LLC lifted its holdings in Vita Coco by 219.0% in the 1st quarter. Moran Wealth Management LLC now owns 72,167 shares of the company’s stock valued at $3,458,000 after purchasing an additional 49,546 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other Vita Coco news, 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 transaction, the insider owned 59,085 shares in the company, valued at $4,434,329.25. This trade represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 sale, the director directly owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This represents 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 416,406 shares of company stock valued at $32,692,409 in the last ninety days. 12.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on COCO. Piper Sandler raised their price target on shares of Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Jefferies Financial Group upped their price objective on shares of 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 raised their target price on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.71.

Vita Coco Trading Down 2.9%

Shares of NASDAQ:COCO opened at $67.54 on Thursday. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 1.31 and a beta of 0.77. The stock’s 50-day moving average price is $74.74 and its two-hundred day moving average price is $62.73. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $85.83.

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