Ranger Investment Management L.P. Makes New $5.63 Million Investment in Vita Coco Company, Inc. $COCO

Ranger Investment Management L.P. bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 85,105 shares of the company’s stock, valued at approximately $5,629,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Vita Coco during the second quarter valued at $463,654,000. Wasatch Advisors LP increased its position in Vita Coco by 80.3% in the first 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 during the period. Vanguard Group Inc. increased its position in Vita Coco by 8.2% in the fourth 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 during the period. Wellington Management Group LLP raised its holdings in Vita Coco by 22.1% during the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after purchasing an additional 439,958 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Vita Coco during the 4th quarter worth about $73,242,000. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley increased their price objective 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. Jefferies Financial Group raised their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Piper Sandler lifted their target price on shares of Vita Coco from $74.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.71.

Vita Coco Price Performance

Shares of COCO stock opened at $63.35 on Monday. The firm has a fifty day moving average of $70.82 and a 200-day moving average of $64.02. Vita Coco Company, Inc. has a 12-month low of $33.19 and a 12-month high of $85.83. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.19 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for 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 quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. On average, equities analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other news, insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $75.05, for a total value of $603,777.25. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director directly owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This represents a 0.67% 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 90 days, insiders sold 351,945 shares of company stock worth $28,007,266. Corporate insiders own 12.90% of the company’s stock.

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.