AlphaQuest LLC Has $892,000 Holdings in Vita Coco Company, Inc. $COCO

AlphaQuest LLC decreased its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,711 shares of the company’s stock after selling 2,943 shares during the quarter. AlphaQuest LLC’s holdings in Vita Coco were worth $892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COCO. Principal Financial Group Inc. grew its position in shares of Vita Coco by 1.2% in the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company’s stock valued at $1,343,000 after purchasing an additional 521 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Vita Coco by 6.2% in the first quarter. Bank of New York Mellon Corp now owns 133,572 shares of the company’s stock valued at $4,094,000 after purchasing an additional 7,788 shares during the last quarter. Banque Pictet & Cie SA acquired a new position in shares of Vita Coco in the first quarter valued at approximately $344,000. New York State Common Retirement Fund grew its position in shares of Vita Coco by 29.6% in the first quarter. New York State Common Retirement Fund now owns 443,116 shares of the company’s stock valued at $13,582,000 after purchasing an additional 101,263 shares during the last quarter. Finally, CWM LLC grew its position in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after purchasing an additional 367 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research downgraded Vita Coco from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Morgan Stanley boosted their price target on Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Piper Sandler upgraded Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target for the company in a research note on Wednesday, August 20th. Needham & Company LLC assumed coverage on Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, Bank of America boosted their price target on Vita Coco from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.63.

Vita Coco Price Performance

NASDAQ COCO opened at $39.67 on Monday. The business has a fifty day moving average price of $39.19 and a two-hundred day moving average price of $36.31. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $43.65. The stock has a market capitalization of $2.25 billion, a PE ratio of 37.08, a PEG ratio of 2.58 and a beta of 0.40.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The firm had revenue of $168.76 million during the quarter, compared to analysts’ expectations of $162.20 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Martin Roper sold 1,835 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total transaction of $78,427.90. Following the completion of the transaction, the chief executive officer directly owned 287,062 shares in the company, valued at approximately $12,269,029.88. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 3,173 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $42.50, for a total transaction of $134,852.50. Following the transaction, the chief operating officer owned 76,127 shares of the company’s stock, valued at $3,235,397.50. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,463,800 shares of company stock worth $141,219,233 over the last three months. Insiders own 32.30% of the company’s stock.

About Vita Coco

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.