Deutsche Bank AG Invests $3.49 Million in Vita Coco Company, Inc. $COCO

Key Points

• Deutsche Bank initiated a $3.49 million stake in Vita Coco, purchasing 52,707 shares, while institutional investors collectively own 88.49% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $77.71; targets include $78 from Jefferies and $90 from Goldman Sachs.
• Vita Coco exceeded quarterly expectations, reporting $0.82 in EPS versus the $0.56 consensus and revenue of $216.15 million, up 28.1% year over year. However, insiders sold $28.0 million worth of shares over the past 90 days.

Deutsche Bank AG purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 52,707 shares of the company's stock, valued at approximately $3,486,000. Deutsche Bank AG owned about 0.09% of Vita Coco as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Vita Coco by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after purchasing an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Vita Coco by 5,376.0% during the second 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 purchased a new stake in shares of Vita Coco during the second quarter valued at $9,627,000. Cerity Partners LLC bought a new stake in Vita Coco in the 2nd quarter worth about $645,000. Finally, Qube Research & Technologies Ltd bought a new stake in Vita Coco in the 2nd quarter worth about $2,990,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on COCO. Citigroup restated a "buy" rating on shares of Vita Coco in a research note on Tuesday, May 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Vita Coco in a research note on Wednesday, July 29th. Jefferies Financial Group boosted their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research report on Thursday, July 23rd. 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.71.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $62.80 on Thursday. The stock's 50-day simple moving average is $69.61 and its two-hundred day simple moving average is $64.16. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 1.20 and a beta of 0.77. Vita Coco Company, Inc. has a 52-week low of $33.19 and a 52-week high of $85.83.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The firm had revenue of $216.15 million during the quarter, compared to analyst estimates of $210.64 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 73,842 shares of Vita Coco stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the transaction, the director owned 402,579 shares in the company, valued at $32,335,145.28. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the sale, the insider directly owned 59,085 shares of the company's stock, valued at approximately $4,434,329.25. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% 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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