Russell Investments Group Ltd. Increases Stock Holdings in Vita Coco Company, Inc. $COCO

Key Points

• Russell Investments Group Ltd. increased its stake in Vita Coco Company, Inc. by 53.8% during the 1st quarter, now owning 197,586 shares worth approximately $6.06 million.
• Vita Coco's stock recently opened at $35.92, showing a 5.8% increase and a market cap of $2.04 billion, with analysts setting various price targets between $38 and $45.
• Several hedge funds have also expanded their positions in Vita Coco, with 88.49% of the stock currently owned by institutional investors.

Russell Investments Group Ltd. lifted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 197,586 shares of the company's stock after buying an additional 69,100 shares during the quarter. Russell Investments Group Ltd. owned 0.35% of Vita Coco worth $6,056,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC increased its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. CWM LLC boosted its position in Vita Coco by 14.7% during the 1st 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. Summit Investment Advisors Inc. boosted its position in Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after acquiring an additional 347 shares during the period. US Bancorp DE boosted its position in Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after acquiring an additional 364 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Vita Coco by 16.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after acquiring an additional 758 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on COCO. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target for the company in a research report on Wednesday. Wells Fargo & Company boosted their price target on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Evercore ISI boosted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley boosted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.38.

Vita Coco Stock Up 5.8%

Shares of Vita Coco stock opened at $35.92 on Thursday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 1.80 and a beta of 0.37. The business has a fifty day simple moving average of $35.81 and a 200-day simple moving average of $34.69. Vita Coco Company, Inc. has a fifty-two week low of $24.09 and a fifty-two week high of $40.32.

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

Insider Activity

In other news, CMO Jane Prior sold 10,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $37.07, for a total transaction of $370,700.00. Following the sale, the chief marketing officer directly owned 134,188 shares of the company's stock, valued at $4,974,349.16. The trade was a 6.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider directly owned 94,127 shares in the company, valued at $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,800 shares of company stock worth $1,384,226 over the last 90 days. 32.30% of the stock is currently owned by company insiders.

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.

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