OMERS ADMINISTRATION Corp acquired a new stake in Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,802 shares of the company’s stock, valued at approximately $979,000.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Vita Coco during the second quarter worth about $463,654,000. Wasatch Advisors LP grew its stake in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares during the last quarter. Wellington Management Group LLP grew its stake in Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after buying an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco during the 4th quarter worth approximately $73,242,000. Finally, Millennium Management LLC increased its position in Vita Coco by 164.7% during the third 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 during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.
Vita Coco Stock Down 1.9%
Shares of NASDAQ:COCO opened at $61.63 on Friday. The company has a market cap of $3.54 billion, a P/E ratio of 34.05, a PEG ratio of 1.18 and a beta of 0.77. Vita Coco Company, Inc. has a 52 week low of $34.26 and a 52 week high of $85.83. The company has a 50-day moving average price of $69.16 and a 200 day moving average price of $64.18.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on COCO shares. Evercore boosted 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. Morgan Stanley lifted their target price 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. Piper Sandler reiterated an “overweight” rating on shares of Vita Coco in a research report on Monday. Wells Fargo & Company increased their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.71.
Get Our Latest Analysis on Vita Coco
Insider Activity
In other Vita Coco news, insider Es Charles Van sold 8,045 shares of the 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 completion of the transaction, the insider owned 59,085 shares in the company, valued at approximately $4,434,329.25. This represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 73,842 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.32, for a total value of $5,930,989.44. Following the completion of the sale, the director directly owned 402,579 shares of the company’s stock, valued at approximately $32,335,145.28. This trade represents a 15.50% decrease in their position. 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. Insiders sold 351,945 shares of company stock valued at $28,007,266 in the last three months. 12.90% of the stock is currently owned by company insiders.
About Vita Coco
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.
Featured Articles
- Five stocks we like better than Vita Coco
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for Vita Coco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vita Coco and related companies with MarketBeat.com's FREE daily email newsletter.
