Ascent Group LLC Acquires New Stake in Vita Coco Company, Inc. $COCO

Key Points

• Ascent Group LLC invested $348,000 in Vita Coco Company, purchasing 11,367 shares during the first quarter, indicating strong institutional interest in the company.
• Analysts have a consensus rating of "Moderate Buy" for Vita Coco, with price targets ranging from $39.00 to $45.00, signaling positive market sentiment.
• Vita Coco reported earnings per share of $0.38 for the latest quarter, surpassing expectations and demonstrating a 17.1% increase in revenue compared to the prior year.

Ascent Group LLC bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,367 shares of the company's stock, valued at approximately $348,000.

Several other institutional investors also recently added to or reduced their stakes in COCO. CWM LLC increased its stake in Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after buying an additional 367 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Vita Coco during the 1st quarter valued at about $111,000. US Bancorp DE raised its holdings in shares of Vita Coco by 7.5% in the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after purchasing an additional 364 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Vita Coco by 16.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock valued at $164,000 after purchasing an additional 758 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Vita Coco by 238.9% in the 1st quarter. State of Wyoming now owns 7,314 shares of the company's stock valued at $224,000 after purchasing an additional 5,156 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COCO. Morgan Stanley boosted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price target on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target for the company in a report on Wednesday, August 20th. Finally, Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and an average price target of $38.38.

Insiders Place Their Bets

In related news, insider Es Charles Van sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider owned 94,127 shares of the company's stock, valued at $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Liran sold 14,734 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.05, for a total transaction of $545,894.70. Following the completion of the sale, the director directly owned 620,455 shares in the company, valued at approximately $22,987,857.75. This trade represents a 2.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,800 shares of company stock valued at $4,275,496. 34.20% of the stock is owned by company insiders.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.09 during mid-day trading on Tuesday, reaching $39.88. The company's stock had a trading volume of 279,803 shares, compared to its average volume of 738,881. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $40.71. The stock has a market capitalization of $2.27 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.09 and a beta of 0.36. The stock has a 50-day moving average of $36.22 and a two-hundred day moving average of $34.55.

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

Vita Coco Profile

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.