1,479,049 Shares in Vita Coco Company, Inc. $COCO Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,479,049 shares of the company’s stock, valued at approximately $62,815,000. Vita Coco makes up approximately 1.4% of Wilmington Savings Fund Society FSB’s investment portfolio, making the stock its 12th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Clearstead Advisors LLC boosted its holdings in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the last quarter. Quarry LP increased its holdings in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares during the last quarter. MAI Capital Management acquired a new position in Vita Coco during the second quarter worth $33,000. EverSource Wealth Advisors LLC raised its position in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in Vita Coco during the third quarter worth $54,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

COCO stock opened at $58.14 on Wednesday. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $61.39. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 49.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.37. The company has a fifty day moving average price of $55.20 and a two-hundred day moving average price of $48.91.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. Vita Coco’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Research analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the completion of the sale, the director directly owned 608,266 shares in the company, valued at $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $57.98, for a total value of $115,960.00. Following the sale, the chief financial officer owned 31,951 shares of the company’s stock, valued at approximately $1,852,518.98. This represents a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 122,900 shares of company stock worth $6,731,318. 34.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Evercore reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Wall Street Zen cut Vita Coco from a “buy” rating to a “sell” rating in a report on Saturday, February 21st. Piper Sandler boosted their price target on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Finally, Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

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.