Jupiter Topco LLC Invests $1.32 Million in Vita Coco Company, Inc. $COCO

Jupiter Topco LLC purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, Holdings Channel reports. The firm purchased 20,021 shares of the company’s stock, valued at approximately $1,325,000.

A number of other institutional investors also recently modified their holdings of the company. PDT Partners LLC acquired a new stake in shares of Vita Coco in the second quarter valued at $562,000. Canada Pension Plan Investment Board acquired a new position in Vita Coco during the 2nd quarter valued at about $589,000. Castleark Management LLC bought a new stake in shares of Vita Coco during the 2nd quarter valued at $5,752,000. Legal & General Group Plc acquired a new position in Vita Coco in the second quarter valued at about $7,057,000. Finally, The Manufacturers Life Insurance Company bought a new position in Vita Coco during the 2nd quarter worth approximately $1,687,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $55.13 on Friday. The business has a fifty day moving average price of $66.32 and a two-hundred day moving average price of $64.14. The stock has a market capitalization of $3.16 billion, a PE ratio of 30.46, a P/E/G ratio of 1.04 and a beta of 0.75. Vita Coco Company, Inc. has a fifty-two week low of $37.27 and a fifty-two week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued 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. The company had revenue of $216.15 million for the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.Vita Coco’s revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. On average, equities analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current year.

Insider Transactions at Vita Coco

In related news, Director Ira Liran sold 96,158 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the transaction, the director owned 476,421 shares in the company, valued at $37,703,957.94. This trade represents a 16.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director owned 580,296 shares in the company, valued at $48,118,144.32. The trade was a 0.67% 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 343,900 shares of company stock valued at $27,403,488 in the last three months. Company insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

COCO has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating on shares of Vita Coco in a report on Monday, August 24th. Evercore boosted their target price on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Morgan Stanley increased their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One equities research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.71.

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.