Faithward Advisors LLC Makes New $1.12 Million Investment in Vita Coco Company, Inc. $COCO

Faithward Advisors LLC acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,135 shares of the company’s stock, valued at approximately $1,120,000.

A number of other institutional investors have also recently added to or reduced their stakes in COCO. Caitong International Asset Management Co. Ltd lifted its holdings in 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 buying an additional 501 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 675 shares in the last quarter. Quarry LP lifted its holdings in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $82.85 on Tuesday. The firm has a market cap of $4.73 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. The firm’s 50-day simple moving average is $65.65 and its 200-day simple moving average is $58.20. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $83.00.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. During the same quarter in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In related news, insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction dated 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 owned 59,085 shares of the company’s stock, valued at $4,434,329.25. This represents a 11.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. This represents a 34.13% 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 709,306 shares of company stock worth $49,266,293 in the last quarter. 34.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COCO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Wells Fargo & Company upped their target price on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Piper Sandler restated an “overweight” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upped their target price 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. One equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Vita Coco Company 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.