Vita Coco Company, Inc. $COCO Shares Bought by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners increased its Vita Coco stake by 31.3% during the third quarter, acquiring 18,125 additional shares and bringing its holdings to 75,990 shares valued at approximately $4.35 million.
• Institutional ownership remains high at 88.49%, with major investors including BlackRock, Congress Asset Management, Bank of America, and Dimensional Fund Advisors holding significant positions.
• Vita Coco reported stronger-than-expected quarterly results, with EPS of $0.58 versus the $0.47 consensus and revenue of $243.83 million, up 33.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $74.12.

Moody Aldrich Partners LLC boosted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 31.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,990 shares of the company's stock after acquiring an additional 18,125 shares during the quarter. Moody Aldrich Partners LLC owned 0.13% of Vita Coco worth $4,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Vita Coco in the second quarter valued at approximately $463,654,000. Congress Asset Management Co. grew its holdings in shares of Vita Coco by 2.8% in the third quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company's stock worth $71,015,000 after purchasing an additional 33,219 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Vita Coco in the second quarter worth approximately $56,722,000. Dimensional Fund Advisors LP increased its stake in shares of Vita Coco by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company's stock worth $51,422,000 after buying an additional 61,950 shares during the period. Finally, Algert Global LLC increased its stake in shares of Vita Coco by 35.3% in the second quarter. Algert Global LLC now owns 296,102 shares of the company's stock worth $19,584,000 after buying an additional 77,191 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Performance

COCO opened at $56.37 on Thursday. Vita Coco Company, Inc. has a 52-week low of $39.69 and a 52-week high of $85.83. The stock has a market capitalization of $3.22 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.50 and a beta of 0.76. The stock's 50 day moving average price is $57.80 and its 200-day moving average price is $61.59.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COCO shares. Evercore reiterated an "outperform" rating on shares of Vita Coco in a report on Friday, October 23rd. Zacks Research lowered shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 21st. Oppenheimer initiated coverage on shares of Vita Coco in a research report on Thursday, October 1st. They issued an "outperform" rating and a $70.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Vita Coco from $65.00 to $68.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group set a $90.00 price objective on shares of Vita Coco and gave the company a "buy" rating in a research note on Thursday, July 23rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.12.

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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