UBS Group AG Sells 172,308 Shares of Vita Coco Company, Inc. $COCO

Key Points

• UBS Group AG cut its Vita Coco stake by 35.6% in the fourth quarter, selling 172,308 shares and leaving it with 311,594 shares valued at about $16.5 million.
• Vita Coco posted strong quarterly results, with earnings of $0.50 per share versus $0.34 expected and revenue of $179.77 million, up 37.4% year over year.
• Analyst sentiment remains positive, with several firms raising ratings or price targets; the stock has a consensus “Moderate Buy” rating and an average target price of $69.00.

UBS Group AG decreased its stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 35.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 311,594 shares of the company's stock after selling 172,308 shares during the period. UBS Group AG owned 0.55% of Vita Coco worth $16,518,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP bought a new stake in Vita Coco in the third quarter worth about $45,135,000. New York State Common Retirement Fund raised its position in Vita Coco by 10.3% in the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after acquiring an additional 47,632 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Vita Coco in the third quarter worth about $2,230,000. Wilmington Savings Fund Society FSB bought a new stake in Vita Coco in the third quarter worth about $62,815,000. Finally, Night Squared LP bought a new stake in Vita Coco in the third quarter worth about $5,193,000. Institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

COCO has been the topic of several research reports. Weiss Ratings raised shares of Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Jefferies Financial Group boosted their price target on shares of Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Piper Sandler reissued an "overweight" rating and issued a $70.00 price target on shares of Vita Coco in a research report on Wednesday, April 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 price target on shares of Vita Coco in a research report on Thursday, April 30th. Finally, Zacks Research raised shares of Vita Coco from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and an average target price of $69.00.

Insider Activity

In related news, CEO Martin Roper sold 25,000 shares of the business's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $50.11, for a total transaction of $1,252,750.00. Following the completion of the transaction, the chief executive officer owned 298,484 shares of the company's stock, valued at approximately $14,957,033.24. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Michael Kirban sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the transaction, the chairman directly owned 515,681 shares of the company's stock, valued at approximately $35,066,308. This represents a 8.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 458,361 shares of company stock worth $26,353,572 in the last three months. Insiders own 34.20% of the company's stock.

Vita Coco Trading Up 3.0%

Shares of NASDAQ:COCO opened at $74.61 on Wednesday. The company has a 50 day moving average of $54.50 and a 200 day moving average of $52.62. The stock has a market cap of $4.26 billion, a P/E ratio of 54.46, a P/E/G ratio of 1.74 and a beta of 0.72. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $75.64.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. The company had revenue of $179.77 million during the quarter, compared to analysts' expectations of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. Vita Coco's revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, equities analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal 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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