Capstone Investment Advisors LLC Invests $1.80 Million in Vita Coco Company, Inc. $COCO

Capstone Investment Advisors LLC acquired a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 27,261 shares of the company’s stock, valued at approximately $1,803,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COCO. CWM LLC increased its stake in 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 raised its stake in Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Vita Coco by 4.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after purchasing an additional 489 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Vita Coco by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,341 shares of the company’s stock worth $4,047,000 after buying an additional 539 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $61.63 on Friday. The business’s 50 day simple moving average is $69.16 and its two-hundred day simple moving average is $64.18. The stock has a market capitalization of $3.54 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Vita Coco Company, Inc. has a one year low of $34.26 and a one year high of $85.83.

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

Wall Street Analysts Forecast Growth

COCO has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Morgan Stanley lifted their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Jefferies Financial Group increased 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. Finally, Wells Fargo & Company raised their price target on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. One 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, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $77.71.

Insider Activity at Vita Coco

In related news, insider Es Charles Van sold 8,045 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the sale, the insider directly owned 59,085 shares in the company, valued at $4,434,329.25. This represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 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. The trade was a 0.67% decrease in their position. 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 sold 351,945 shares of company stock worth $28,007,266 in the last three months. 12.90% of the stock is owned by insiders.

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.