Teachers Retirement System of The State of Kentucky Takes $969,000 Position in Vita Coco Company, Inc. $COCO

Key Points

• Teachers Retirement System of Kentucky opened a new Q3 position in Vita Coco (NASDAQ:COCO), buying 22,822 shares valued at about $969,000, part of heavy institutional interest (insitutional ownership ~88.49%) including large new stakes by Wilmington and Westfield.
• Company insiders have been net sellers recently — 72,800 shares worth $4,052,956 sold over the past 90 days, including director sales by Kenneth Sadowsky and Ira Liran, leaving insiders with about 32.30% ownership.
• Analysts are largely positive with a consensus rating of "Moderate Buy" and a consensus price target of $54.88; in the latest quarter Vita Coco beat revenue estimates but missed EPS (revenue $127.8M vs. $117.8M est.; EPS $0.09 vs. $0.13 est.), market cap ~$2.95B and PE ~43.8.

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,822 shares of the company's stock, valued at approximately $969,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Vita Coco in the third quarter valued at about $62,815,000. Westfield Capital Management Co. LP acquired a new stake in shares of Vita Coco during the third quarter worth about $45,135,000. American Century Companies Inc. lifted its holdings in shares of Vita Coco by 648.0% during the 3rd quarter. American Century Companies Inc. now owns 647,257 shares of the company's stock valued at $27,489,000 after purchasing an additional 560,729 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Vita Coco during the 2nd quarter valued at about $9,627,000. Finally, Artisan Partners Limited Partnership grew its position in shares of Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company's stock valued at $88,054,000 after purchasing an additional 224,305 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the sale, the director directly owned 608,266 shares of the company's stock, valued at $32,797,702.72. The trade was a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the transaction, the director owned 572,579 shares of the company's stock, valued at approximately $32,436,600.35. This represents a 4.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 72,800 shares of company stock worth $4,052,956. 32.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Bank of America raised shares of Vita Coco from a "neutral" rating to a "buy" rating and lifted their price target for the company from $48.00 to $54.00 in a research note on Monday, November 17th. Zacks Research downgraded shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Jefferies Financial Group raised their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, November 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, November 18th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.88.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $51.72 on Friday. The firm has a market cap of $2.95 billion, a PE ratio of 43.83, a P/E/G ratio of 1.67 and a beta of 0.37. The business's 50 day simple moving average is $54.65 and its 200 day simple moving average is $47.65. Vita Coco Company, Inc. has a 52-week low of $25.79 and a 52-week high of $59.88.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $117.80 million. During the same period in the prior year, the business earned $0.06 earnings per share. Vita Coco's revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Vita Coco Company 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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