Great Lakes Advisors LLC Acquires Shares of 19,109 Vita Coco Company, Inc. $COCO

Great Lakes Advisors LLC acquired a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,109 shares of the company’s stock, valued at approximately $1,264,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Vita Coco during the second quarter valued at $463,654,000. Wasatch Advisors LP lifted its stake in Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. lifted its stake in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after purchasing an additional 237,510 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Vita Coco by 22.1% during the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after purchasing an additional 439,958 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Vita Coco during the 4th quarter valued at about $73,242,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

NASDAQ:COCO opened at $63.35 on Friday. The firm has a market capitalization of $3.64 billion, a PE ratio of 35.00, a PEG ratio of 1.19 and a beta of 0.77. The stock’s fifty day moving average is $70.82 and its 200 day moving average is $63.96. Vita Coco Company, Inc. has a fifty-two week low of $33.19 and a fifty-two week high of $85.83.

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

Insider Transactions at Vita Coco

In related news, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the transaction, the insider directly owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. The trade was a 11.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 73,842 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the transaction, the director owned 402,579 shares in the company, valued at $32,335,145.28. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group set a $90.00 price objective on Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. Piper Sandler increased their price target on Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Morgan Stanley lifted their price objective on Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One investment 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 company. According to MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average price target of $77.71.

Vita Coco Company 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.