86,960 Shares in Vita Coco Company, Inc. $COCO Bought by Castleark Management LLC

Castleark Management LLC bought a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 86,960 shares of the company’s stock, valued at approximately $5,752,000. Castleark Management LLC owned approximately 0.15% of Vita Coco as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Vita Coco during the 2nd quarter valued at approximately $463,654,000. Wasatch Advisors LP raised its stake in Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares in the last quarter. Wellington Management Group LLP lifted its position in Vita Coco by 232.2% during the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after purchasing an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco during the fourth quarter valued at $73,242,000. Finally, Millennium Management LLC grew its stake in shares of Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after buying an additional 762,731 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Up 0.3%

COCO stock opened at $63.57 on Wednesday. Vita Coco Company, Inc. has a twelve month low of $33.19 and a twelve month high of $85.83. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 1.19 and a beta of 0.77. The business’s fifty day simple moving average is $70.03 and its two-hundred day simple moving average is $64.12.

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

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Jefferies Financial Group boosted their price objective on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.71.

Insiders Place Their Bets

In other news, insider Es Charles Van sold 8,045 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the transaction, the insider directly owned 59,085 shares in the company, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the transaction, the director owned 580,296 shares in the company, valued at $48,118,144.32. This represents a 0.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is currently owned by company insiders.

Vita Coco 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.