Handelsbanken Fonder AB Buys New Position in Vita Coco Company, Inc. $COCO

Handelsbanken Fonder AB bought a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,400 shares of the company’s stock, valued at approximately $1,085,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of 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 purchasing an additional 232 shares during the period. Mariner LLC increased its position in shares of Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after buying an additional 236 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake 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 worth $661,000 after buying an additional 489 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 worth $28,000 after buying an additional 501 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Vita Coco by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,341 shares of the company’s stock valued at $4,047,000 after buying an additional 539 shares during the period. Institutional investors own 88.49% of the company’s stock.

Insider Activity

In related news, Director Ira Liran sold 73,842 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 402,579 shares of the company’s stock, valued at $32,335,145.28. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $603,777.25. Following the completion of the sale, the insider directly owned 59,085 shares of the company’s stock, valued at $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 351,945 shares of company stock worth $28,007,266 in the last three months. Company insiders own 12.90% of the company’s stock.

Vita Coco Stock Up 6.3%

Shares of NASDAQ COCO opened at $67.57 on Thursday. The firm has a market cap of $3.88 billion, a PE ratio of 37.33, a P/E/G ratio of 1.20 and a beta of 0.77. Vita Coco Company, Inc. has a 12-month low of $33.19 and a 12-month high of $85.83. The company’s fifty day simple moving average is $71.44 and its 200 day simple moving average is $63.88.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping 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 last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 28.1% on a year-over-year basis. On average, equities analysts predict that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a report on Wednesday, July 29th. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. The Goldman Sachs Group set a $90.00 target price on Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. Piper Sandler raised their target price on Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company lifted their target price on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.71.

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.