TT International Asset Management LTD Acquires Shares of 99,026 Vita Coco Company, Inc. (NASDAQ:COCO)

TT International Asset Management LTD bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 99,026 shares of the company's stock, valued at approximately $3,035,000. Vita Coco comprises 0.4% of TT International Asset Management LTD's portfolio, making the stock its 28th largest position. TT International Asset Management LTD owned about 0.17% of Vita Coco at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pier Capital LLC boosted its stake in Vita Coco by 39.6% during the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company's stock worth $7,405,000 after acquiring an additional 56,879 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Vita Coco during the 4th quarter valued at approximately $1,806,000. GAMMA Investing LLC grew its holdings in Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock valued at $859,000 after buying an additional 25,544 shares in the last quarter. Raymond James Financial Inc. bought a new position in Vita Coco in the 4th quarter valued at $7,985,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Vita Coco in the 4th quarter valued at about $458,000. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on COCO shares. Evercore ISI upped 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. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Stephens reaffirmed an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a report on Thursday, March 27th. Wells Fargo & Company boosted their price target on shares of Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.88.

Insider Activity

In other news, CMO Jane Prior sold 10,000 shares of Vita Coco stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $35.12, for a total transaction of $351,200.00. Following the completion of the sale, the chief marketing officer now directly owns 134,188 shares in the company, valued at approximately $4,712,682.56. The trade was a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the completion of the sale, the insider now owns 7,097,161 shares in the company, valued at $243,077,764.25. The trade was a 34.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,822,662 shares of company stock worth $131,036,070. 34.20% of the stock is currently owned by corporate insiders.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.39 during mid-day trading on Tuesday, hitting $36.39. 680,385 shares of the stock traded hands, compared to its average volume of 611,440. The stock has a fifty day moving average price of $34.09 and a 200-day moving average price of $34.68. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 1.90 and a beta of 0.39. Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. The firm had revenue of $130.92 million for the quarter, compared to analysts' expectations of $125.64 million. Vita Coco had a net margin of 11.32% and a return on equity of 25.08%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Vita Coco 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.