Thornburg Investment Management Inc. Takes $3.19 Million Position in Vita Coco Company, Inc. $COCO

Key Points

• Thornburg Investment Management acquired 48,173 Vita Coco shares worth approximately $3.19 million, representing a 0.08% stake. Institutional investors collectively own 88.49% of the company.
• Vita Coco reported quarterly EPS of $0.82, beating estimates of $0.56, while revenue reached $216.15 million, up 28.1% year over year and above expectations.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $77.71; however, insiders have sold 351,945 shares worth about $28.0 million over the past 90 days.

Thornburg Investment Management Inc. purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 48,173 shares of the company's stock, valued at approximately $3,186,000. Thornburg Investment Management Inc. owned 0.08% of Vita Coco at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Vita Coco in the 2nd quarter valued at approximately $463,654,000. Wasatch Advisors LP raised its holdings in shares of Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company's stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company's stock worth $166,959,000 after purchasing an additional 237,510 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company's stock worth $128,940,000 after purchasing an additional 439,958 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vita Coco during the 4th quarter worth about $73,242,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley increased their price target on shares of Vita Coco from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. Citigroup reiterated a "buy" rating on shares of Vita Coco in a research note on Tuesday, May 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Vita Coco in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Evercore raised their price objective on Vita Coco from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. 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's stock. Based on data from MarketBeat, Vita Coco has an average rating of "Moderate Buy" and an average target price of $77.71.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $61.71 on Friday. Vita Coco Company, Inc. has a 1 year low of $34.85 and a 1 year high of $85.83. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 1.16 and a beta of 0.77. The company's 50 day simple moving average is $68.72 and its 200 day simple moving average is $64.16.

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

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 96,158 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the transaction, the director directly owned 476,421 shares in the company, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Es Charles Van sold 8,045 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total value of $603,777.25. Following the completion of the transaction, the insider owned 59,085 shares of the company's stock, valued at $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 351,945 shares of company stock valued at $28,007,266. 12.90% of the stock is currently 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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