SG Americas Securities LLC Purchases 22,334 Shares of Vita Coco Company, Inc. $COCO

Key Points

• SG Americas Securities LLC increased its Vita Coco stake by 93.3% in the first quarter, buying 22,334 additional shares and bringing its total to 46,274 shares worth about $2.2 million.
• Vita Coco reported a strong quarterly earnings beat, with EPS of $0.50 versus $0.34 expected and revenue of $179.77 million, up 37.4% from a year earlier.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and average price target of $70.43, though there has also been notable insider selling in recent months.

SG Americas Securities LLC raised its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 93.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,274 shares of the company's stock after buying an additional 22,334 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Vita Coco worth $2,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COCO. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock worth $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC lifted its position in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Quarry LP lifted its position in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. GAMMA Investing LLC grew its stake in Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock worth $60,000 after buying an additional 227 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after buying an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Vita Coco Stock Up 4.3%

Vita Coco stock opened at $68.98 on Thursday. The company has a market capitalization of $3.94 billion, a PE ratio of 50.35, a P/E/G ratio of 1.59 and a beta of 0.77. The firm has a fifty day simple moving average of $72.84 and a two-hundred day simple moving average of $60.31. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $85.83.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a research report on Thursday, April 30th. Wall Street Zen raised Vita Coco from a "sell" rating to a "buy" rating in a research note on Saturday, May 2nd. Zacks Research downgraded Vita Coco from a "strong-buy" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group lifted their price target on Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Citigroup reiterated a "buy" rating on shares of Vita Coco in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.43.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 30,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at approximately $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 705,306 shares of company stock valued at $49,154,273. 32.30% of the stock is owned by insiders.

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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