95,000 Shares in Vita Coco Company, Inc. $COCO Purchased by Capricorn Fund Managers Ltd

Key Points

• Capricorn Fund Managers Ltd opened a new position in Vita Coco, buying 95,000 shares valued at about $4.55 million in the first quarter.
• Vita Coco’s recent earnings beat expectations, with $0.50 EPS versus $0.34 expected and revenue of $179.77 million, up 37.4% year over year.
• Wall Street remains constructive on the stock, with a Moderate Buy consensus and an average price target of $70.43, though recent insider sales included large transactions by the COO and CEO.

Capricorn Fund Managers Ltd acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 95,000 shares of the company's stock, valued at approximately $4,551,000. Capricorn Fund Managers Ltd owned about 0.17% of Vita Coco at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in COCO. Caitong International Asset Management Co. Ltd boosted its stake in shares of Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after purchasing an additional 501 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 675 shares during the last quarter. Quarry LP lifted its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Vita Coco by 5,376.0% in the second 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. Finally, GAMMA Investing LLC lifted its holdings in Vita Coco by 25.0% in the fourth 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. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Vita Coco from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Wall Street Zen raised Vita Coco from a "sell" rating to a "buy" rating in a research note on Saturday, May 2nd. Evercore restated an "outperform" rating and issued a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. The Goldman Sachs Group restated a "buy" rating and issued a $71.00 price target on shares of Vita Coco in a research report on Thursday, April 30th. Finally, Zacks Research raised Vita Coco from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.43.

Vita Coco Price Performance

Vita Coco stock opened at $66.14 on Wednesday. The company's 50 day simple moving average is $72.41 and its 200 day simple moving average is $60.21. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 1.74 and a beta of 0.74.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million during the quarter, compared to analysts' expectations of $148.39 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up 37.4% on a year-over-year basis. As a group, analysts predict that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In other news, COO Jonathan Burth sold 40,000 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00. Following the completion of the transaction, the chief operating officer owned 57,910 shares of the company's stock, valued at $3,691,762.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 25,000 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief executive officer owned 298,484 shares of the company's stock, valued at approximately $14,924,200. This represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 705,306 shares of company stock valued at $49,154,273. 34.20% of the stock is owned by company insiders.

Vita Coco 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.

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