TT International Asset Management LTD Makes New Investment in Vita Coco Company, Inc. $COCO

Key Points

• TT International Asset Management opened a position in Vita Coco, buying 22,237 shares worth approximately $1.27 million; the stock represents about 0.1% of its portfolio.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $74.12, though recent target changes include Wells Fargo lowering its target to $65.
• Vita Coco beat quarterly estimates, reporting EPS of $0.58 versus $0.47 expected and revenue of $243.83 million, up 33.7% year over year.

TT International Asset Management LTD acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,237 shares of the company's stock, valued at approximately $1,273,000. Vita Coco makes up approximately 0.1% of TT International Asset Management LTD's investment portfolio, making the stock its 23rd largest holding.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Vita Coco by 210.4% in the second quarter. IFP Advisors Inc now owns 689 shares of the company's stock valued at $46,000 after purchasing an additional 467 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of Vita Coco by 611.4% in the third quarter. Fortitude Family Office LLC now owns 626 shares of the company's stock worth $36,000 after buying an additional 538 shares during the period. BOKF NA grew its holdings in shares of Vita Coco by 26.8% during the third quarter. BOKF NA now owns 3,168 shares of the company's stock valued at $181,000 after buying an additional 669 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Vita Coco by 12.5% during the third quarter. Contravisory Investment Management Inc. now owns 6,584 shares of the company's stock valued at $377,000 after buying an additional 733 shares in the last quarter. Finally, Signature Equity Partners LLC purchased a new position in shares of Vita Coco during the third quarter valued at $42,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Wells Fargo & Company lowered their target price on Vita Coco from $85.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. The Goldman Sachs Group set a $90.00 target price on Vita Coco and gave the company a "buy" rating in a research note on Thursday, July 23rd. Oppenheimer initiated coverage on Vita Coco in a report on Thursday, October 1st. They issued an "outperform" rating and a $70.00 target price on the stock. Finally, Evercore reissued an "outperform" rating on shares of Vita Coco in a research report on Friday, October 23rd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.12.

Vita Coco Trading Up 2.5%

NASDAQ COCO opened at $59.69 on Wednesday. Vita Coco Company, Inc. has a 1-year low of $39.69 and a 1-year high of $85.83. The firm's fifty day simple moving average is $57.26 and its 200-day simple moving average is $61.66. The company has a market capitalization of $3.41 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.76.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The firm had revenue of $243.83 million during the quarter, compared to analysts' expectations of $230.10 million. During the same quarter last year, the firm earned $0.40 earnings per share. The business's revenue for the quarter was up 33.7% on a year-over-year basis. As a group, analysts predict that Vita Coco Company, Inc. will post 2.06 EPS for the current year.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.

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