Sei Investments Co. Raises Position in Vita Coco Company, Inc. $COCO

Key Points

• Sei Investments more than doubled its Vita Coco stake in the first quarter, increasing its holdings by 118.6% to 163,091 shares valued at approximately $7.8 million. Institutional investors and hedge funds collectively own 88.49% of the company.
• Vita Coco reported strong quarterly results, with EPS of $0.82 versus the $0.56 consensus estimate and revenue of $216.15 million, up 28.1% year over year. Analysts expect full-year EPS of $1.96.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $77.71; several firms recently raised their targets. However, insiders sold 414,406 shares worth about $32.6 million over the past three months.

Sei Investments Co. increased its stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 118.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,091 shares of the company's stock after buying an additional 88,481 shares during the quarter. Sei Investments Co. owned about 0.29% of Vita Coco worth $7,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after acquiring an additional 1,174 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Vita Coco during the second quarter worth $9,627,000. Cerity Partners LLC purchased a new position in shares of Vita Coco in the second quarter valued at $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vita Coco in the second quarter valued at $2,990,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Price Performance

NASDAQ:COCO opened at $65.94 on Monday. The business's 50 day moving average is $74.30 and its two-hundred day moving average is $62.88. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $85.83. The company has a market cap of $3.78 billion, a PE ratio of 36.43, a P/E/G ratio of 1.24 and a beta of 0.77.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $216.15 million during the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business's revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the transaction, the director owned 580,296 shares of the company's stock, valued at $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,561 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $599,270.00. Following the sale, the insider owned 67,130 shares of the company's stock, valued at approximately $4,699,100. The trade was a 11.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 414,406 shares of company stock worth $32,558,669. Company insiders own 12.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Vita Coco from $74.00 to $89.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Vita Coco in a report on Wednesday. Citigroup reissued a "buy" rating on shares of Vita Coco in a research report on Tuesday, May 26th. Evercore raised their target price on Vita Coco from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company lifted their target price on Vita Coco from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.71.

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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