Dimensional Fund Advisors LP Has $51.42 Million Stake in Vita Coco Company, Inc. $COCO

Key Points

• Dimensional Fund Advisors increased its Vita Coco stake by 6.1% in the first quarter, purchasing 61,950 additional shares for a total position valued at approximately $51.4 million. Institutional investors collectively own 88.49% of the company.
• Vita Coco reported strong quarterly results, with EPS of $0.82 beating estimates by $0.26 and revenue rising 28.1% year over year to $216.15 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $77.71.
• COCO shares opened at $65.94, below their 50-day moving average of $74.30 but above their 200-day average of $62.88. Insiders sold $32.6 million worth of stock during the latest quarter, primarily through pre-arranged trading plans.

Dimensional Fund Advisors LP grew its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 6.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,073,413 shares of the company's stock after purchasing an additional 61,950 shares during the period. Dimensional Fund Advisors LP owned about 1.88% of Vita Coco worth $51,422,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Quarry LP grew its holdings in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after buying an additional 1,344 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after buying an additional 958 shares in the last quarter. Finally, CWM LLC raised its position in Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company's stock valued at $80,000 after buying an additional 232 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

COCO stock opened at $65.94 on Monday. The stock's fifty day simple moving average is $74.30 and its two-hundred day simple moving average is $62.88. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $85.83. The stock has a market cap of $3.78 billion, a P/E ratio of 36.43, a P/E/G ratio of 1.24 and a beta of 0.77.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, 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 related news, insider Es Charles Van sold 8,561 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $599,270.00. Following the completion of the sale, the insider owned 67,130 shares in the company, valued at approximately $4,699,100. This trade represents a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. 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 a total of 414,406 shares of company stock valued at $32,558,669 over the last quarter. Corporate insiders own 12.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore raised their price objective on Vita Coco from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. 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 note on Thursday, July 23rd. Jefferies Financial Group increased their target price 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. Citigroup reissued a "buy" rating on shares of Vita Coco in a research report on Tuesday, May 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Vita Coco in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.71.

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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