TT International Asset Management LTD Makes New Investment in Vita Coco Company, Inc. (NASDAQ:COCO)

TT International Asset Management LTD bought a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 99,026 shares of the company's stock, valued at approximately $3,035,000. Vita Coco makes up about 0.4% of TT International Asset Management LTD's investment portfolio, making the stock its 28th largest position. TT International Asset Management LTD owned approximately 0.17% of Vita Coco at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in COCO. Wasatch Advisors LP boosted its position in shares of Vita Coco by 17.8% in the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock worth $104,414,000 after buying an additional 427,871 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock worth $18,902,000 after buying an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock worth $31,544,000 after buying an additional 372,633 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Vita Coco in the 4th quarter worth about $10,715,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Vita Coco in the 4th quarter worth about $7,985,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CMO Jane Prior sold 10,000 shares of the stock in a transaction that occurred 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 owns 134,188 shares of the company's stock, valued at approximately $4,712,682.56. This represents a 6.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,097,161 shares of the company's stock, valued at approximately $243,077,764.25. This trade represents a 34.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,822,662 shares of company stock valued at $131,036,070 in the last 90 days. 34.20% of the stock is currently owned by insiders.

Vita Coco Stock Performance

COCO stock traded down $0.58 during trading on Friday, hitting $35.12. The stock had a trading volume of 528,567 shares, compared to its average volume of 612,532. The company's 50 day moving average price is $33.89 and its two-hundred day moving average price is $34.67. Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 1.86 and a beta of 0.39.

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