Vita Coco Company, Inc. $COCO Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Vita Coco position by 39.2% in the first quarter, acquiring 100,791 additional shares for a total of 357,889 shares. Institutional investors collectively own 88.49% of the company.
• Vita Coco reported quarterly EPS of $0.82, beating estimates of $0.56, while revenue rose 28.1% year over year to $216.15 million. The company posted a 15.50% net margin and 31.09% return on equity.
• COCO shares opened at $67.54, down 2.9%, after trading between $31.79 and $85.83 over the past year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $77.71, although some firms recently downgraded the stock to “Hold.”

First Trust Advisors LP increased its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 39.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 357,889 shares of the company's stock after purchasing an additional 100,791 shares during the period. First Trust Advisors LP owned 0.63% of Vita Coco worth $17,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COCO. Caitong International Asset Management Co. Ltd lifted its position in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock worth $28,000 after acquiring an additional 501 shares during the period. Quarry LP grew its stake in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock valued at $60,000 after purchasing an additional 227 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock valued at $70,000 after purchasing an additional 958 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Vita Coco by 5,376.0% during the second 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 during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Activity at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the transaction, the director directly owned 580,296 shares of the company's stock, valued at $48,118,144.32. This represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 416,406 shares of company stock valued at $32,692,409. Company insiders own 12.90% of the company's stock.

Vita Coco Trading Down 2.9%

Shares of COCO stock opened at $67.54 on Thursday. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $85.83. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 1.31 and a beta of 0.77. The stock has a 50 day simple moving average of $74.74 and a 200-day simple moving average of $62.73.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm had revenue of $216.15 million during the quarter, compared to analysts' expectations of $210.64 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Vita Coco's revenue was up 28.1% compared to the same quarter last year. On average, equities analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COCO shares. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Jefferies Financial Group boosted their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Zacks Research downgraded shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Morgan Stanley raised their target price on shares of Vita Coco from $65.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.71.

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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