Oppenheimer Asset Management Inc. Buys Shares of 29,022 Vita Coco Company, Inc. $COCO

Oppenheimer Asset Management Inc. purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,022 shares of the company’s stock, valued at approximately $1,920,000. Oppenheimer Asset Management Inc. owned about 0.05% of Vita Coco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COCO. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after acquiring an additional 501 shares during the last quarter. Quarry LP increased its holdings in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after purchasing an additional 958 shares during the period. EverSource Wealth Advisors LLC raised its position in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the period. Finally, CWM LLC lifted its stake in Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after purchasing an additional 232 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Price Performance

Vita Coco stock opened at $65.21 on Monday. Vita Coco Company, Inc. has a 1-year low of $32.88 and a 1-year high of $85.83. The company has a market cap of $3.74 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The stock’s 50 day moving average price is $72.04 and its 200 day moving average price is $63.65.

Vita Coco (NASDAQ:COCO) last announced its quarterly 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. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The business had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts anticipate that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. The Goldman Sachs Group set a $90.00 price objective on shares of Vita Coco and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group increased their price objective on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One equities research 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 company’s stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $77.71.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 73,842 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the completion of the transaction, the director owned 402,579 shares in the company, valued at $32,335,145.28. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the transaction, 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 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. Over the last 90 days, insiders have sold 355,845 shares of company stock valued at $28,309,399. Insiders own 12.90% of the company’s stock.

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.