Occudo Quantitative Strategies LP Invests $323,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

Occudo Quantitative Strategies LP purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,748 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also modified their holdings of COCO. Barclays PLC boosted its position in Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company's stock valued at $1,969,000 after purchasing an additional 46,385 shares during the last quarter. Pier Capital LLC lifted its position in shares of Vita Coco by 39.6% in the fourth quarter. Pier Capital LLC now owns 200,623 shares of the company's stock worth $7,405,000 after buying an additional 56,879 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vita Coco in the fourth quarter worth about $7,985,000. Renaissance Technologies LLC acquired a new stake in shares of Vita Coco in the fourth quarter worth about $458,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Vita Coco in the fourth quarter worth about $1,806,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Transactions at Vita Coco

In related news, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Liran sold 1,723 shares of Vita Coco stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total value of $68,954.46. Following the transaction, the director now owns 812,579 shares of the company's stock, valued at $32,519,411.58. The trade was a 0.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,832,485 shares of company stock worth $131,288,213 in the last 90 days. Corporate insiders own 32.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on COCO shares. Stephens reissued an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Evercore ISI boosted their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group set a $41.00 price objective on shares of Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.38.

Vita Coco Price Performance

Shares of COCO traded up $1.06 during midday trading on Tuesday, hitting $37.18. The stock had a trading volume of 873,152 shares, compared to its average volume of 622,374. The company has a 50 day simple moving average of $32.39 and a two-hundred day simple moving average of $34.76. The Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS 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.