Russell Investments Group Ltd. Buys 69,100 Shares of 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 its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,586 shares of the company's stock after purchasing 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 Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in COCO. Coppell Advisory Solutions LLC grew its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. CWM LLC grew its holdings in shares of 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 last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares during the last quarter. US Bancorp DE grew its holdings in shares of Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after purchasing an additional 364 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Vita Coco by 16.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock valued at $164,000 after purchasing an additional 758 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on COCO. Wells Fargo & Company lifted their target price on shares of 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 lifted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Morgan Stanley lifted their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's 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 Performance

Shares of NASDAQ COCO traded down $0.62 during midday trading on Tuesday, reaching $33.52. The stock had a trading volume of 967,365 shares, compared to its average volume of 851,279. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 1.81 and a beta of 0.37. Vita Coco Company, Inc. has a twelve month low of $24.09 and a twelve month high of $40.32. The company's 50 day moving average price is $35.92 and its 200 day moving average price is $34.61.

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

Insider Activity

In other news, Director Ira Liran sold 3,152 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.02, for a total value of $116,687.04. Following the transaction, the director owned 635,189 shares in the company, valued at approximately $23,514,696.78. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total transaction of $380,200.00. Following the completion of the sale, the insider owned 94,127 shares of the company's stock, valued at $3,578,708.54. This represents a 9.60% 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 worth $1,500,913 over the last quarter. Company insiders own 34.20% of the company's stock.

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.