Renaissance Technologies LLC Takes Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Renaissance Technologies LLC acquired a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,400 shares of the company's stock, valued at approximately $458,000.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Vita Coco by 6.2% in the 4th quarter. Wells Fargo & Company MN now owns 39,368 shares of the company's stock worth $1,453,000 after purchasing an additional 2,297 shares during the last quarter. Franklin Resources Inc. raised its position in Vita Coco by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 194,798 shares of the company's stock valued at $7,190,000 after acquiring an additional 8,565 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in Vita Coco by 8.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 43,974 shares of the company's stock valued at $1,623,000 after acquiring an additional 3,536 shares in the last quarter. Wellington Management Group LLP lifted its stake in Vita Coco by 173.2% in the fourth quarter. Wellington Management Group LLP now owns 252,941 shares of the company's stock valued at $9,336,000 after acquiring an additional 160,353 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in Vita Coco in the fourth quarter worth approximately $1,164,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Vita Coco Stock Up 2.2 %

Shares of NASDAQ:COCO opened at $34.21 on Friday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.25 and a beta of 0.38. The business has a 50 day moving average price of $32.11 and a 200 day moving average price of $34.35. The Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32.

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

Insider Activity

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares of the company's stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,358 shares of company stock valued at $2,865,456. Insiders own 34.20% of the company's stock.

Wall Street Analysts Forecast Growth

COCO has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday. Wells Fargo & Company decreased their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Stephens reissued an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their target price on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.00.

Vita Coco Company 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.

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