Handelsbanken Fonder AB Invests $1.08 Million in Vita Coco Company, Inc. $COCO

Key Points

• Handelsbanken Fonder AB acquired 16,400 Vita Coco shares worth approximately $1.08 million in the second quarter. Institutional investors collectively own 88.49% of COCO.
• 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 generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $77.71, although insiders have sold about $28 million in stock over the past 90 days.

Handelsbanken Fonder AB acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,400 shares of the company's stock, valued at approximately $1,085,000.

Several other institutional investors and hedge funds have also modified their holdings of COCO. Caitong International Asset Management Co. Ltd grew its position in 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 acquiring an additional 501 shares during the last quarter. Quarry LP lifted its holdings in shares of Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after acquiring an additional 758 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after acquiring an additional 958 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. Finally, CWM LLC boosted its stake in shares of 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 purchasing an additional 232 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on COCO shares. Citigroup reiterated a "buy" rating on shares of Vita Coco in a research report on Tuesday, May 26th. Zacks Research upgraded shares of Vita Coco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Morgan Stanley boosted their target price on shares of Vita Coco from $65.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Jefferies Financial Group increased their price target on Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.71.

Vita Coco Price Performance

Vita Coco stock opened at $67.57 on Thursday. The business has a 50 day moving average of $71.44 and a 200-day moving average of $63.88. The company has a market capitalization of $3.88 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.20 and a beta of 0.77. Vita Coco Company, Inc. has a 1 year low of $33.19 and a 1 year high of $85.83.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping 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 business had revenue of $216.15 million for the quarter, compared to the consensus estimate of $210.64 million. During the same period last year, the company earned $0.38 EPS. The firm's revenue was up 28.1% compared to the same quarter last year. Equities analysts anticipate that Vita Coco Company, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the completion of the sale, the director directly owned 476,421 shares in the company, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 351,945 shares of company stock valued at $28,007,266. Insiders own 12.90% of the company's stock.

Vita Coco Company 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.

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).

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