Deutsche Bank AG Takes Position in Vita Coco Company, Inc. $COCO

Deutsche Bank AG acquired a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 52,707 shares of the company’s stock, valued at approximately $3,486,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after acquiring an additional 501 shares during the period. Quarry LP increased its stake in shares of Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Vita Coco by 265.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after purchasing an additional 958 shares during the period. Finally, CWM LLC raised its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COCO shares. The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price target on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. 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. Piper Sandler restated an “overweight” rating on shares of Vita Coco in a research report on Monday. Finally, Evercore raised their price objective on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. One equities research 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.71.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $62.80 on Thursday. Vita Coco Company, Inc. has a 1 year low of $33.19 and a 1 year high of $85.83. The business has a 50 day simple moving average of $69.61 and a two-hundred day simple moving average of $64.16. The firm has a market capitalization of $3.60 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 1.20 and a beta of 0.77.

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

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction on 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 owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of Vita Coco stock in a transaction on 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 owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 351,945 shares of company stock valued at $28,007,266 in the last quarter. 12.90% of the stock is owned by insiders.

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.