The Vita Coco Company, Inc. (NASDAQ:COCO) Stake Raised by Wasatch Advisors LP

Wasatch Advisors LP increased its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 41.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,057 shares of the company’s stock after purchasing an additional 117,346 shares during the quarter. Wasatch Advisors LP owned approximately 0.70% of Vita Coco worth $9,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headinvest LLC acquired a new stake in Vita Coco in the 3rd quarter worth approximately $29,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Vita Coco during the fourth quarter worth $60,000. PNC Financial Services Group Inc. lifted its stake in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after acquiring an additional 3,210 shares during the period. Federated Hermes Inc. lifted its stake in Vita Coco by 1,237.2% in the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock valued at $167,000 after buying an additional 5,926 shares during the period. Finally, Moran Wealth Management LLC lifted its stake in Vita Coco by 7.0% in the fourth quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock valued at $243,000 after buying an additional 619 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 6,900 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,500.00. Following the transaction, the chairman now owns 633,448 shares in the company, valued at approximately $15,836,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Vita Coco news, Chairman Michael Kirban sold 6,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,500.00. Following the sale, the chairman now directly owns 633,448 shares of the company’s stock, valued at approximately $15,836,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Es Charles Van sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $201,268.00. Following the completion of the sale, the insider now directly owns 97,668 shares in the company, valued at $2,933,946.72. The disclosure for this sale can be found here. Insiders have sold a total of 41,317 shares of company stock worth $1,159,580 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 0.5 %

Shares of COCO traded up $0.14 on Tuesday, reaching $28.01. 635,505 shares of the company’s stock traded hands, compared to its average volume of 682,213. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29. The stock’s 50 day simple moving average is $27.31 and its two-hundred day simple moving average is $25.06. The stock has a market cap of $1.59 billion, a PE ratio of 30.45, a PEG ratio of 1.75 and a beta of 0.23.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $112.00 million during the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. Analysts forecast that The Vita Coco Company, Inc. will post 1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Vita Coco in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.67.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.