B. Metzler seel. Sohn & Co. AG Takes $2.54 Million Position in Vita Coco Company, Inc. $COCO

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 38,361 Vita Coco shares in the second quarter, worth approximately $2.54 million, representing about 0.07% of the company.
• Institutional ownership stands at 88.49%, with several funds—including Marshall Wace, Cerity Partners and Qube Research—also establishing or increasing positions. Meanwhile, insiders sold roughly $28.0 million of stock over the past 90 days.
• Vita Coco reported quarterly EPS of $0.82 versus the $0.56 analyst estimate, while revenue rose 28.1% year over year to $216.15 million. Analysts maintain a consensus “Moderate Buy” rating with a $77.71 price target, although shares opened at $63.35.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 38,361 shares of the company's stock, valued at approximately $2,537,000. B. Metzler seel. Sohn & Co. AG owned approximately 0.07% of Vita Coco as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after acquiring an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock valued at $49,000 after purchasing an additional 1,344 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Vita Coco during the 2nd quarter valued at approximately $9,627,000. Cerity Partners LLC acquired a new position in Vita Coco during the 2nd quarter worth approximately $645,000. Finally, Qube Research & Technologies Ltd acquired a new position in Vita Coco during the 2nd quarter worth approximately $2,990,000. 88.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director directly owned 580,296 shares of the company's stock, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $75.05, for a total value of $603,777.25. Following the transaction, the insider owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 351,945 shares of company stock valued at $28,007,266 over the last 90 days. Company insiders own 12.90% of the company's stock.

Wall Street Analyst Weigh In

COCO has been the topic of several recent research reports. 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 research report on Monday, May 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Vita Coco in a research note on Wednesday, July 29th. Citigroup reiterated a "buy" rating on shares of Vita Coco in a report on Tuesday, May 26th. Evercore boosted their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One research 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 a consensus price target of $77.71.

Vita Coco Stock Down 2.8%

Shares of NASDAQ COCO opened at $63.35 on Friday. The company has a market capitalization of $3.64 billion, a PE ratio of 35.00, a P/E/G ratio of 1.19 and a beta of 0.77. Vita Coco Company, Inc. has a twelve month low of $33.19 and a twelve month high of $85.83. The firm has a fifty day simple moving average of $70.82 and a 200 day simple moving average of $63.96.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for 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 quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.

About Vita Coco

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.

Want to see what other hedge funds are holding COCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vita Coco Company, Inc. (NASDAQ:COCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source