RFG Advisory LLC Purchases New Holdings in Vita Coco Company, Inc. $COCO

Key Points

• RFG Advisory LLC disclosed a new fourth-quarter stake in Vita Coco, buying 28,119 shares worth about $1.49 million.
• Institutional interest remains strong, with hedge funds and other investors owning 88.49% of the stock; meanwhile, insiders have been selling, including COO Jonathan Burth and CEO Martin Roper.
• Vita Coco reported better-than-expected quarterly results, including EPS of $0.50 versus $0.34 expected and revenue of $179.77 million, up 37.4% year over year, while analysts largely rate the stock a Moderate Buy.

RFG Advisory LLC purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,119 shares of the company's stock, valued at approximately $1,491,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westfield Capital Management Co. LP purchased a new stake in shares of Vita Coco during the third quarter valued at approximately $45,135,000. New York State Common Retirement Fund increased its position in Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after buying an additional 47,632 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Vita Coco in the third quarter worth $2,230,000. Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco in the third quarter worth $62,815,000. Finally, American Century Companies Inc. increased its position in Vita Coco by 648.0% in the third quarter. American Century Companies Inc. now owns 647,257 shares of the company's stock worth $27,489,000 after buying an additional 560,729 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 news, COO Jonathan Burth sold 60,000 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $58.65, for a total value of $3,519,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares of the company's stock, valued at $3,396,421.50. This trade represents a 50.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin Roper sold 25,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $50.11, for a total value of $1,252,750.00. Following the completion of the transaction, the chief executive officer directly owned 298,484 shares of the company's stock, valued at $14,957,033.24. The trade was a 7.73% decrease in their ownership of the stock. 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 429,800 shares of company stock valued at $24,354,302 over the last three months. Insiders own 32.30% of the company's stock.

Vita Coco Price Performance

Vita Coco stock opened at $71.60 on Friday. Vita Coco Company, Inc. has a one year low of $30.54 and a one year high of $72.98. The business has a fifty day moving average price of $53.54 and a 200-day moving average price of $51.94. The firm has a market capitalization of $4.09 billion, a P/E ratio of 52.26, a PEG ratio of 1.64 and a beta of 0.72.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same period last year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up 37.4% on a year-over-year basis. Sell-side analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COCO. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Evercore reissued an "outperform" rating and issued a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Zacks Research raised Vita Coco from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Weiss Ratings raised Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group raised their target price on Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.00.

Vita Coco 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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