Banque Pictet & Cie SA Acquires Shares of 11,227 Vita Coco Company, Inc. (NASDAQ:COCO)

Banque Pictet & Cie SA purchased a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,227 shares of the company's stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COCO. Bank of New York Mellon Corp boosted its position in Vita Coco by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 125,784 shares of the company's stock worth $4,643,000 after acquiring an additional 1,650 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Vita Coco by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,370 shares of the company's stock worth $12,009,000 after acquiring an additional 1,329 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Vita Coco during the fourth quarter worth about $7,985,000. Counterpoint Mutual Funds LLC acquired a new position in Vita Coco during the fourth quarter worth about $462,000. Finally, Thrivent Financial for Lutherans acquired a new position in Vita Coco during the fourth quarter worth about $10,715,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Es Charles Van sold 10,000 shares of the company'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 transaction of $380,200.00. Following the sale, the insider directly owned 94,127 shares of the company's stock, valued at $3,578,708.54. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider directly owned 7,097,161 shares in the company, valued at approximately $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,842,662 shares of company stock worth $131,786,970 over the last 90 days. Company insiders own 32.30% of the company's stock.

Vita Coco Price Performance

Shares of COCO stock traded down $0.13 during trading hours on Friday, hitting $37.06. The company had a trading volume of 398,332 shares, compared to its average volume of 615,308. The company's fifty day moving average is $35.44 and its 200 day moving average is $34.72. Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32. The stock has a market capitalization of $2.10 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.37.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. Vita Coco had a net margin of 11.32% and a return on equity of 25.08%. The firm had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same period in the prior year, the business posted $0.24 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. 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 target price on shares of Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Finally, Evercore ISI boosted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.00.

Vita Coco Company 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.