Vita Coco Company, Inc. $COCO Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Vita Coco Company, Inc. by 102.2%, now holding approximately $15.68 million worth of the stock.
• Vita Coco reported a net margin of 11.50% and a revenue of $168.76 million for the last quarter, exceeding analysts' estimates.
• Several analysts have updated their price targets for Vita Coco, with Goldman Sachs setting a target of $41.00 and Wells Fargo raising their target to $45.00.

Wellington Management Group LLP grew its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 102.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,462 shares of the company's stock after acquiring an additional 258,521 shares during the quarter. Wellington Management Group LLP owned about 0.90% of Vita Coco worth $15,676,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of COCO. CWM LLC lifted its holdings in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Vita Coco during the first quarter worth $111,000. US Bancorp DE lifted its holdings in shares of Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after purchasing an additional 364 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Vita Coco by 16.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after purchasing an additional 758 shares during the period. Finally, IHT Wealth Management LLC acquired a new stake in shares of Vita Coco during the fourth quarter worth $216,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Trading Up 1.4%

Shares of COCO stock traded up $0.50 during mid-day trading on Friday, reaching $35.74. The stock had a trading volume of 527,196 shares, compared to its average volume of 770,668. Vita Coco Company, Inc. has a 12-month low of $24.09 and a 12-month high of $40.32. The company has a market cap of $2.03 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 1.89 and a beta of 0.37. The business has a 50-day simple moving average of $35.90 and a 200 day simple moving average of $34.52.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. Research analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Ira Liran sold 3,152 shares of Vita Coco stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $37.02, for a total transaction of $116,687.04. Following the completion of the sale, the director owned 635,189 shares in the company, valued at approximately $23,514,696.78. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider owned 94,127 shares of the company's stock, valued at approximately $3,578,708.54. This represents a 9.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,952 shares of company stock worth $1,500,913. 32.30% of the stock is owned by company insiders.

Analyst Ratings Changes

COCO has been the subject of several research analyst reports. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective for the company in a research report on Wednesday, August 20th. Wells Fargo & Company increased their price objective on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Morgan Stanley increased their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco presently has a consensus rating of "Moderate Buy" and an average price target of $38.38.

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.