Vita Coco Company, Inc. $COCO Shares Purchased by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC has increased its holdings in Vita Coco Company by 68.9% during Q2, owning 17,586 shares valued at approximately $635,000.
• Several analysts have issued ratings for Vita Coco, with Goldman Sachs raising its price target to $47.00 and maintaining a "buy" rating.
• Vita Coco reported a 17.1% increase in revenue year-over-year for the last quarter, posting $168.76 million, with earnings per share beating estimates by $0.02.

Simplicity Wealth LLC increased its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 68.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,586 shares of the company's stock after acquiring an additional 7,171 shares during the quarter. Simplicity Wealth LLC's holdings in Vita Coco were worth $635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TT International Asset Management LTD acquired a new position in Vita Coco during the first quarter worth about $3,035,000. Invesco Ltd. grew its holdings in shares of Vita Coco by 398.5% in the first quarter. Invesco Ltd. now owns 97,862 shares of the company's stock valued at $2,999,000 after purchasing an additional 78,229 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Vita Coco by 3.4% in the first quarter. Northern Trust Corp now owns 424,987 shares of the company's stock valued at $13,026,000 after purchasing an additional 13,814 shares in the last quarter. Wellington Management Group LLP grew its holdings in Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after acquiring an additional 258,521 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock worth $859,000 after acquiring an additional 25,544 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC started coverage on shares of Vita Coco in a report on Wednesday, September 24th. They issued a "hold" rating for the company. The Goldman Sachs Group upped their price objective on shares of Vita Coco from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Morgan Stanley increased their price target on shares of Vita Coco from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, September 25th. Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of Vita Coco from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.75.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 3,173 shares of Vita Coco stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $42.50, for a total transaction of $134,852.50. Following the sale, the chief operating officer owned 76,127 shares in the company, valued at $3,235,397.50. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Martin Roper sold 15,000 shares of Vita Coco stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $42.58, for a total transaction of $638,700.00. Following the sale, the chief executive officer owned 222,515 shares in the company, valued at $9,474,688.70. This represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,455,906 shares of company stock worth $140,876,626 in the last quarter. Insiders own 34.20% of the company's stock.

Vita Coco Price Performance

Shares of COCO stock opened at $42.76 on Wednesday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $43.65. The firm's 50-day simple moving average is $37.30 and its 200-day simple moving average is $35.33. The firm has a market cap of $2.43 billion, a P/E ratio of 39.96, a PEG ratio of 2.28 and a beta of 0.40.

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

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.

Want to see what other hedge funds are holding COCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vita Coco Company, Inc. (NASDAQ:COCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.