OMERS ADMINISTRATION Corp Buys Shares of 14,802 Vita Coco Company, Inc. $COCO

OMERS ADMINISTRATION Corp purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, HoldingsChannel.com reports. The fund purchased 14,802 shares of the company’s stock, valued at approximately $979,000.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vita Coco by 2,636.8% in 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 raised its holdings in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Vita Coco by 5,376.0% during 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. boosted its position in Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after purchasing an additional 958 shares in the last quarter. Finally, CWM LLC grew its holdings in Vita Coco by 18.2% in the fourth 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 last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

Vita Coco stock opened at $61.63 on Friday. The stock has a fifty day moving average of $69.16 and a two-hundred day moving average of $64.18. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.18 and a beta of 0.77. Vita Coco Company, Inc. has a fifty-two week low of $34.26 and a fifty-two week high of $85.83.

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

Analyst Upgrades and Downgrades

COCO has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Jefferies Financial Group increased 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. The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the company a “buy” rating in a report on Thursday, July 23rd. Evercore raised their target price on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.71.

Insider Buying and Selling

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were 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 in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. 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, insider Es Charles Van sold 8,045 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $75.05, for a total transaction of $603,777.25. Following the sale, the insider directly owned 59,085 shares in the company, valued at $4,434,329.25. This 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. In the last quarter, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is owned by corporate 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.