Hsbc Holdings PLC Invests $1.07 Million in Vita Coco Company, Inc. $COCO

Key Points

• HSBC acquired a new Vita Coco stake worth approximately $1.07 million, purchasing 22,653 shares in the first quarter. Institutional investors collectively own 88.49% of the company.
• Vita Coco reported strong quarterly results, with EPS of $0.82 versus the $0.56 consensus estimate and revenue of $216.15 million, up 28.1% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $77.71 price target, although insiders sold 486,406 shares valued at roughly $37.4 million over the past 90 days.

Hsbc Holdings PLC bought 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 Securities and Exchange Commission. The institutional investor bought 22,653 shares of the company's stock, valued at approximately $1,066,000.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted 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 grew its holdings in shares of 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 purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 worth $49,000 after purchasing an additional 1,344 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock valued at $60,000 after purchasing an additional 227 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock valued at $70,000 after purchasing an additional 958 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 that occurred on Monday, June 1st. The shares were sold at an average price of $75.05, for a total value of $603,777.25. Following the completion of the transaction, the insider directly owned 59,085 shares in the company, valued at approximately $4,434,329.25. The trade was a 11.98% 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 486,406 shares of company stock valued at $37,442,409 over the last 90 days. Insiders own 12.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COCO shares. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley boosted their price objective on Vita Coco from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday. Citigroup reissued a "buy" rating on shares of Vita Coco in a report on Tuesday, May 26th. Evercore raised their target price on shares of Vita Coco from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.71.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $69.58 on Wednesday. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 1.27 and a beta of 0.77. The company has a 50-day simple moving average of $74.95 and a 200-day simple moving average of $62.64.

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

About Vita Coco

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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