Invesco Ltd. Purchases 78,229 Shares of Vita Coco Company, Inc. $COCO

Key Points

• Invesco Ltd. significantly increased its stake in Vita Coco Company by 398.5%, acquiring an additional 78,229 shares for a total of approximately $2.99 million as of its latest SEC filing.
• The company's recent earnings showed a 17.1% year-over-year revenue growth, reporting $168.76 million in revenue and earnings per share of $0.38, surpassing analysts' estimates.
• Several hedge funds have boosted their holdings in Vita Coco, contributing to a total institutional ownership of 88.49% of the company's stock.

Invesco Ltd. grew its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 398.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,862 shares of the company's stock after buying an additional 78,229 shares during the quarter. Invesco Ltd. owned 0.17% of Vita Coco worth $2,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COCO. CWM LLC increased its stake in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after purchasing an additional 367 shares during the period. US Bancorp DE boosted its position in shares of Vita Coco by 7.5% in the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after buying an additional 364 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Vita Coco by 16.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after buying an additional 758 shares during the period. Goldstone Financial Group LLC purchased a new position in shares of Vita Coco during the first quarter valued at $231,000. Finally, Simplicity Wealth LLC acquired a new position in Vita Coco during the first quarter valued at $319,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ira Liran sold 3,152 shares of Vita Coco stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.02, for a total transaction of $116,687.04. Following the completion of the transaction, the director directly owned 635,189 shares of the company's stock, valued at $23,514,696.78. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Jane Prior sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total transaction of $370,700.00. Following the completion of the sale, the chief marketing officer directly owned 134,188 shares of the company's stock, valued at approximately $4,974,349.16. This represents a 6.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,952 shares of company stock valued at $1,500,913 over the last ninety days. 34.20% of the stock is owned by insiders.

Vita Coco Stock Down 1.7%

COCO stock traded down $0.61 during mid-day trading on Wednesday, reaching $36.11. 362,956 shares of the stock traded hands, compared to its average volume of 727,848. The firm has a market capitalization of $2.05 billion, a PE ratio of 33.72, a P/E/G ratio of 1.89 and a beta of 0.36. The business has a 50-day moving average of $35.90 and a two-hundred day moving average of $34.47. Vita Coco Company, Inc. has a 52 week low of $24.09 and a 52 week high of $40.32.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on COCO. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price for the company in a research report on Wednesday, August 20th. Morgan Stanley upped their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.38.

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.