Maverick Capital Ltd. Has $3.69 Million Position in Vita Coco Company, Inc. $COCO

Key Points

• Maverick Capital increased its Vita Coco stake by 31.4% in the first quarter, owning 76,933 shares valued at approximately $3.69 million. Institutional investors and hedge funds collectively hold 88.49% of the company.
• Vita Coco reported strong quarterly results, with earnings of $0.82 per share and revenue of $216.15 million, exceeding estimates and representing 28.1% year-over-year revenue growth.
• Analyst sentiment remains positive, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $77.29, while company insiders have sold significant shares under pre-arranged trading plans.

Maverick Capital Ltd. grew its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 31.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,933 shares of the company's stock after acquiring an additional 18,372 shares during the period. Maverick Capital Ltd. owned about 0.13% of Vita Coco worth $3,686,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COCO. Wasatch Advisors LP lifted its stake in Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company's stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the last quarter. Vanguard Group Inc. grew its holdings in Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company's stock worth $166,959,000 after purchasing an additional 237,510 shares during the period. Wellington Management Group LLP increased its position in Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company's stock worth $128,940,000 after buying an additional 439,958 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Vita Coco during the fourth quarter worth approximately $73,242,000. Finally, Ameriprise Financial Inc. raised its stake in Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company's stock valued at $54,460,000 after buying an additional 737,823 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $67.35 on Tuesday. The stock's fifty day moving average price is $75.09 and its two-hundred day moving average price is $62.53. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 1.48 and a beta of 0.77.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $210.64 million. During the same quarter last year, the business earned $0.38 EPS. The company's quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts anticipate that Vita Coco Company, Inc. will post 1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Vita Coco

In related news, Chairman Michael Kirban sold 50,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the transaction, the chairman directly owned 515,681 shares of the company's stock, valued at approximately $35,066,308. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 20,544 shares of Vita Coco stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $59.35, for a total transaction of $1,219,286.40. Following the completion of the sale, the chief executive officer owned 298,484 shares of the company's stock, valued at $17,715,025.40. This trade represents a 6.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 546,950 shares of company stock valued at $41,211,695. 12.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

COCO has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Evercore increased their price target on Vita Coco from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday. Wells Fargo & Company raised their price target on Vita Coco from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Piper Sandler lifted their price objective on shares of Vita Coco from $74.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Weiss Ratings upgraded shares of Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.29.

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.

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