22,653 Shares in Vita Coco Company, Inc. $COCO Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the first quarter, HoldingsChannel.com reports. The fund acquired 22,653 shares of the company’s stock, valued at approximately $1,066,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its position in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares during the period. Quarry LP raised its stake in shares of Vita Coco by 12,633.3% during 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 shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after buying an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on COCO. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Evercore raised their target price on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Citigroup restated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Piper Sandler upped their price target on shares of Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group increased their price target on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.71.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Ira Liran sold 96,158 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total value of $7,609,944.12. Following the sale, the director owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer 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. In the last ninety days, insiders sold 486,406 shares of company stock valued at $37,442,409. Company insiders own 12.90% of the company’s stock.

Vita Coco Trading Up 3.3%

COCO stock opened at $69.58 on Wednesday. The firm has a 50 day moving average of $74.95 and a 200-day moving average of $62.64. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $85.83. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 1.27 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. Sell-side analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.

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.