Vita Coco Company, Inc. $COCO Stake Boosted by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 118.6% during the first quarter, Holdings Channel reports. The firm owned 163,091 shares of the company’s stock after buying an additional 88,481 shares during the period. Sei Investments Co.’s holdings in Vita Coco were worth $7,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in COCO. Wasatch Advisors LP boosted its position in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the period. Wellington Management Group LLP increased its position in Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after buying an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Vita Coco in the fourth quarter valued at $73,242,000. Millennium Management LLC lifted its stake in Vita Coco by 164.7% in the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after buying an additional 737,823 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

COCO opened at $65.94 on Monday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.77. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $85.83. The business has a 50 day moving average price of $74.30 and a two-hundred day moving average price of $62.88.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, beating 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 company had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same period in the prior year, the company earned $0.38 EPS. Vita Coco’s revenue was up 28.1% on a year-over-year basis. Equities analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on COCO. Wells Fargo & Company upped their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Piper Sandler boosted their target price on shares of Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Jefferies Financial Group boosted 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. Weiss Ratings restated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday. Finally, The Goldman Sachs Group set a $90.00 price target on shares of Vita Coco and gave the company a “buy” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.71.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 580,296 shares in the company, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,561 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $599,270.00. Following the completion of the transaction, the insider owned 67,130 shares of the company’s stock, valued at approximately $4,699,100. The trade was a 11.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 414,406 shares of company stock worth $32,558,669. Company insiders own 12.90% of the company’s stock.

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.