Vanguard Group Inc. Has $166.96 Million Stake in Vita Coco Company, Inc. $COCO

Key Points

• Vanguard increased its stake in Vita Coco by 8.2% in the fourth quarter, buying 237,510 more shares and bringing its holding to 3.15 million shares worth about $166.96 million.
• Insiders sold shares over the last 90 days, including CMO Jane Prior and CEO Martin Roper, with total insider sales reaching 429,800 shares valued at about $24.35 million.
• Analysts remain bullish on COCO after strong quarterly results, with several firms raising price targets; Vita Coco beat earnings and revenue estimates and reported 37.4% year-over-year revenue growth.

Vanguard Group Inc. lifted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,149,584 shares of the company's stock after buying an additional 237,510 shares during the quarter. Vanguard Group Inc. owned about 5.53% of Vita Coco worth $166,959,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Clearstead Advisors LLC grew its position in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock worth $29,000 after buying an additional 675 shares during the period. Quarry LP lifted its holdings in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after purchasing an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock worth $60,000 after purchasing an additional 227 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company's stock worth $80,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Insider Buying and Selling

In other Vita Coco news, CMO Jane Prior sold 50,000 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the transaction, the chief marketing officer directly owned 127,399 shares in the company, valued at approximately $6,741,955.08. This trade represents a 28.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Roper sold 25,000 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $50.11, for a total value of $1,252,750.00. Following the transaction, the chief executive officer owned 298,484 shares in the company, valued at approximately $14,957,033.24. This trade represents a 7.73% 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. Insiders have sold a total of 429,800 shares of company stock valued at $24,354,302 in the last 90 days. Insiders own 34.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COCO shares. Jefferies Financial Group increased their target price on Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Morgan Stanley set a $65.00 target price on Vita Coco in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on Vita Coco from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Wall Street Zen upgraded Vita Coco from a "sell" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $71.00 target price on shares of Vita Coco in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Vita Coco Stock Performance

Shares of NASDAQ:COCO opened at $71.60 on Monday. The stock's fifty day simple moving average is $53.54 and its two-hundred day simple moving average is $51.94. Vita Coco Company, Inc. has a 1-year low of $30.54 and a 1-year high of $72.98. The stock has a market cap of $4.09 billion, a PE ratio of 52.26, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72.

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

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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