Algert Global LLC Buys Shares of 25,990 Vita Coco Company, Inc. $COCO

Key Points

• Algert Global LLC acquired 25,990 shares of Vita Coco Company, Inc. (NASDAQ: COCO) valued at approximately $797,000 in the first quarter.
• Wells Fargo & Company raised their price target on Vita Coco shares from $43.00 to $45.00, maintaining an "overweight" rating.
• Vita Coco stock rose 2.0%, with the stock currently priced at $36.73 and a market capitalization of $2.09 billion.

Algert Global LLC bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,990 shares of the company's stock, valued at approximately $797,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. boosted its holdings in Vita Coco by 4.1% in the 1st quarter. Raymond James Financial Inc. now owns 225,307 shares of the company's stock valued at $6,906,000 after purchasing an additional 8,960 shares during the last quarter. Aberdeen Group plc boosted its holdings in Vita Coco by 14.6% in the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company's stock valued at $22,250,000 after purchasing an additional 92,590 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Vita Coco in the 1st quarter valued at about $503,000. Cookson Peirce & Co. Inc. boosted its holdings in Vita Coco by 17.1% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 25,071 shares of the company's stock valued at $768,000 after purchasing an additional 3,662 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Vita Coco in the 1st quarter valued at about $111,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COCO shares. Wells Fargo & Company upped their price objective on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the stock a "buy" rating in a report on Wednesday, April 30th. Evercore ISI upped their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and a consensus target price of $38.38.

Insiders Place Their Bets

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $37.65, for a total transaction of $146,835.00. Following the sale, the director directly owned 631,666 shares in the company, valued at $23,782,224.90. This represents a 0.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Es Charles Van sold 10,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $38.02, for a total transaction of $380,200.00. Following the sale, the insider owned 94,127 shares in the company, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,800 shares of company stock worth $1,384,226 in the last ninety days. 32.30% of the stock is owned by corporate insiders.

Vita Coco Stock Up 2.0%

Vita Coco stock opened at $36.73 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. Vita Coco Company, Inc. has a 52-week low of $24.09 and a 52-week high of $40.32. The company's 50 day moving average is $35.92 and its two-hundred day moving average is $34.66.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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