Quantbot Technologies LP Makes New Investment in Vita Coco Company, Inc. $COCO

Quantbot Technologies LP acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 21,551 shares of the company’s stock, valued at approximately $1,425,000.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Vita Coco by 73.9% in the first quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock valued at $12,139,000 after acquiring an additional 107,684 shares during the last quarter. Wasatch Advisors LP boosted its stake in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after acquiring an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 worth $166,959,000 after purchasing an additional 237,510 shares during the last quarter. King Luther Capital Management Corp grew its holdings in shares of Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock worth $7,262,000 after purchasing an additional 35,937 shares during the last quarter. Finally, Pier Capital LLC purchased a new position in shares of Vita Coco during the fourth quarter worth about $7,318,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $63.57 on Wednesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 35.12, a PEG ratio of 1.19 and a beta of 0.77. Vita Coco Company, Inc. has a 1 year low of $33.19 and a 1 year high of $85.83. The company’s fifty day moving average is $70.03 and its two-hundred day moving average is $64.12.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Thursday, July 23rd. The company reported $0.82 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 analysts’ expectations of $210.64 million. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup reissued a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Piper Sandler restated an “overweight” rating on shares of Vita Coco in a research note on Monday. Evercore raised their price target on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.71.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 73,842 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 402,579 shares of the company’s stock, valued at approximately $32,335,145.28. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $75.05, for a total value of $603,777.25. Following the sale, the insider owned 59,085 shares of the company’s stock, valued at $4,434,329.25. This trade represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 351,945 shares of company stock valued at $28,007,266 in the last ninety days. 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.