Fox Run Management L.L.C. Purchases New Shares in Vita Coco Company, Inc. $COCO

Key Points

• Fox Run Management L.L.C. invested approximately $503,000 in 16,416 shares of Vita Coco Company, Inc. during the 1st quarter, highlighting growing institutional interest in the company.
• Vita Coco reported a quarterly earnings per share of $0.38, exceeding analysts’ expectations, with revenues increasing by 17.1% year-over-year.
• Analysts have set a consensus price target of $38.38 for Vita Coco, with several firms rating the stock as a “buy” and predicting further growth.

Fox Run Management L.L.C. purchased a new stake 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 fund purchased 16,416 shares of the company's stock, valued at approximately $503,000.

Several other hedge funds have also recently modified their holdings of COCO. Coppell Advisory Solutions LLC increased its holdings in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after buying an additional 613 shares during the period. CWM LLC boosted its position in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after acquiring an additional 367 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Vita Coco in the 1st quarter valued at $111,000. Summit Investment Advisors Inc. raised its position in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after acquiring an additional 347 shares in the last quarter. Finally, US Bancorp DE raised its position 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 worth $161,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COCO shares. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research note on Wednesday. Wall Street Zen cut shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Evercore ISI boosted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.38.

Insider Buying and Selling

In related news, Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $37.65, for a total transaction of $146,835.00. Following the completion of the transaction, the director owned 631,666 shares of the company's stock, valued at $23,782,224.90. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Es Charles Van sold 10,000 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 94,127 shares in the company, valued at approximately $3,578,708.54. The trade was a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,800 shares of company stock worth $1,384,226. 32.30% of the stock is owned by company insiders.

Vita Coco Trading Up 1.7%

Shares of NASDAQ:COCO traded up $0.5950 on Friday, hitting $36.6150. 429,344 shares of the company were exchanged, compared to its average volume of 723,242. The stock's 50 day moving average price is $35.85 and its 200 day moving average price is $34.68. Vita Coco Company, Inc. has a 1-year low of $24.09 and a 1-year high of $40.32. The firm has a market capitalization of $2.08 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 1.90 and a beta of 0.37.

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

About Vita Coco

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.