OMERS ADMINISTRATION Corp Purchases Shares of 24,400 Vita Coco Company, Inc. $COCO

Key Points

• OMERS ADMINISTRATION Corp has acquired a new stake in Vita Coco Company, Inc., purchasing 24,400 shares valued at approximately $748,000.
• Vita Coco reported a 17.1% year-over-year increase in revenue for the quarter, with earnings per share of $0.38, surpassing analysts' expectations of $0.36.
• Several investment firms, including Vanguard Group Inc. and D. E. Shaw & Co. Inc., have recently increased their holdings in Vita Coco, indicating strong institutional interest in the stock.

OMERS ADMINISTRATION Corp purchased a new position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,400 shares of the company's stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Vita Coco by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock valued at $80,987,000 after acquiring an additional 53,172 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Vita Coco by 6.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after acquiring an additional 64,011 shares during the period. Dimensional Fund Advisors LP raised its holdings in Vita Coco by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company's stock valued at $33,393,000 after acquiring an additional 51,944 shares during the period. Driehaus Capital Management LLC raised its holdings in Vita Coco by 77.3% during the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock valued at $31,544,000 after acquiring an additional 372,633 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in Vita Coco by 16.2% during the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company's stock valued at $23,191,000 after acquiring an additional 105,401 shares during the period. Institutional investors own 88.49% of the company's stock.

Vita Coco Trading Up 3.0%

Shares of Vita Coco stock traded up $1.13 during trading on Friday, hitting $38.38. The stock had a trading volume of 553,468 shares, compared to its average volume of 728,526. Vita Coco Company, Inc. has a 12 month low of $24.50 and a 12 month high of $40.32. The business's 50-day moving average is $35.95 and its 200 day moving average is $34.46. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 1.94 and a beta of 0.36.

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

Insider Activity at Vita Coco

In related news, 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 value of $380,200.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Liran sold 3,152 shares of the company's stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 40,952 shares of company stock valued at $1,500,913 over the last ninety days. 32.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COCO shares. Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a report on Wednesday, August 20th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Wells Fargo & Company upped their price target on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, 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 report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.38.

Vita Coco Company Profile

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.