Vita Coco Company, Inc. $COCO Stock Holdings Boosted by Algert Global LLC

Key Points

• Algert Global increased its Vita Coco stake by 35.3% in the second quarter, bringing its holdings to 296,102 shares valued at approximately $19.6 million. 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. Analysts expect full-year EPS of $1.96.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $77.71 price target; however, insiders sold 351,945 shares worth about $28 million during the latest quarter.

Algert Global LLC lifted its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 35.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 296,102 shares of the company's stock after buying an additional 77,191 shares during the period. Algert Global LLC owned approximately 0.52% of Vita Coco worth $19,584,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after buying an additional 501 shares in the last quarter. Quarry LP boosted its stake in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company's stock worth $32,000 after acquiring an additional 758 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Vita Coco by 265.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock worth $70,000 after acquiring an additional 958 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 1,344 shares during the last quarter. Finally, CWM LLC grew 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 acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Price Performance

Shares of COCO opened at $63.36 on Tuesday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 1.19 and a beta of 0.77. Vita Coco Company, Inc. has a fifty-two week low of $33.19 and a fifty-two week high of $85.83. The business's 50-day moving average is $70.43 and its 200-day moving average is $64.06.

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

Insider Buying and Selling at Vita Coco

In other news, insider Es Charles Van sold 8,045 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the transaction, the insider directly owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the transaction, the director directly owned 580,296 shares in the company, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Vita Coco in a report on Wednesday, July 29th. Wall Street Zen cut shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Morgan Stanley boosted their price target on shares of Vita Coco from $65.00 to $68.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Citigroup restated a "buy" rating on shares of Vita Coco in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company raised their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.71.

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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