Wellington Management Group LLP Decreases Stock Holdings in Vita Coco Company, Inc. $COCO

Wellington Management Group LLP lessened its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 21.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,844,963 shares of the company’s stock after selling 489,256 shares during the quarter. Wellington Management Group LLP’s holdings in Vita Coco were worth $122,026,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Vita Coco in the second quarter valued at about $463,654,000. Wasatch Advisors LP raised its position in shares of Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after purchasing an additional 1,637,437 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco in the 4th quarter valued at about $73,242,000. Bank of America Corp DE acquired a new stake in Vita Coco in the 2nd quarter worth about $56,722,000. Finally, Millennium Management LLC boosted its holdings in Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after buying an additional 762,731 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COCO has been the subject of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Evercore increased their price objective on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating on shares of Vita Coco in a research note on Monday, August 24th. The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company increased their target price on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.71.

Insider Buying and Selling at Vita Coco

In related news, Director Ira Liran sold 73,842 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the transaction, the director owned 402,579 shares of the company’s stock, valued at approximately $32,335,145.28. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the director owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This trade represents a 0.67% 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. Insiders sold a total of 343,900 shares of company stock worth $27,403,488 in the last quarter. Company insiders own 12.90% of the company’s stock.

Vita Coco Stock Down 1.1%

COCO stock opened at $58.06 on Wednesday. Vita Coco Company, Inc. has a 52-week low of $34.85 and a 52-week high of $85.83. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. The business has a fifty day moving average of $67.74 and a two-hundred day moving average of $64.21.

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