Wilmington Savings Fund Society FSB Acquires New Shares in Vita Coco Company, Inc. $COCO

Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,479,049 shares of the company’s stock, valued at approximately $62,815,000. Vita Coco accounts for 1.0% of Wilmington Savings Fund Society FSB’s holdings, making the stock its 21st largest position. Wilmington Savings Fund Society FSB owned 2.60% of Vita Coco at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Vita Coco by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock worth $36,759,000 after purchasing an additional 28,448 shares during the period. Balyasny Asset Management L.P. grew its position in Vita Coco by 2.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 701,748 shares of the company’s stock worth $25,333,000 after acquiring an additional 19,431 shares during the last quarter. New York State Common Retirement Fund lifted its position in Vita Coco by 4.6% in the second quarter. New York State Common Retirement Fund now owns 463,399 shares of the company’s stock valued at $16,729,000 after purchasing an additional 20,283 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Vita Coco by 37.8% in the second quarter. Raymond James Financial Inc. now owns 310,363 shares of the company’s stock worth $11,204,000 after purchasing an additional 85,056 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Vita Coco in the second quarter worth approximately $9,627,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

COCO stock opened at $52.71 on Friday. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $56.46. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.38. The business’s 50 day moving average price is $51.58 and its two-hundred day moving average price is $42.93.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The firm’s revenue was up 37.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Sell-side analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ira Liran sold 25,381 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $50.29, for a total transaction of $1,276,410.49. Following the completion of the transaction, the director owned 498,341 shares of the company’s stock, valued at $25,061,568.89. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Zupo sold 10,000 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $43.72, for a total value of $437,200.00. Following the completion of the sale, the director directly owned 12,162 shares in the company, valued at approximately $531,722.64. This represents a 45.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 345,253 shares of company stock worth $16,145,518 over the last three months. Corporate insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COCO shares. The Goldman Sachs Group increased their price target on shares of Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Morgan Stanley increased their target price on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Jefferies Financial Group raised their target price on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wall Street Zen raised Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $48.00 to $54.00 in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

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.