6,787 Shares in Vita Coco Company, Inc. $COCO Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,787 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock valued at $80,987,000 after purchasing an additional 53,172 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Vita Coco by 14.4% in the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock valued at $29,954,000 after purchasing an additional 122,674 shares during the last quarter. GW&K Investment Management LLC lifted its position in Vita Coco by 16.2% in the first quarter. GW&K Investment Management LLC now owns 756,646 shares of the company’s stock valued at $23,191,000 after purchasing an additional 105,401 shares during the last quarter. Aberdeen Group plc lifted its position in Vita Coco by 14.6% in the first quarter. Aberdeen Group plc now owns 725,922 shares of the company’s stock valued at $22,250,000 after purchasing an additional 92,590 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Vita Coco by 62.2% in the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock valued at $19,776,000 after purchasing an additional 247,339 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In other news, insider Es Charles Van sold 10,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the sale, the insider directly owned 84,328 shares of the company’s stock, valued at approximately $3,373,120. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Corey Baker sold 1,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $40.00, for a total value of $40,000.00. Following the completion of the sale, the chief financial officer directly owned 38,754 shares in the company, valued at approximately $1,550,160. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,406 shares of company stock valued at $8,654,550. Insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

COCO has been the subject of a number of research analyst reports. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Wells Fargo & Company lifted their price target on shares of Vita Coco from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target on the stock in a report on Wednesday, August 20th. Finally, Morgan Stanley lifted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.38.

Vita Coco Stock Down 7.2%

Shares of COCO stock opened at $39.26 on Friday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.24 and a beta of 0.36. The business’s fifty day moving average is $36.42 and its 200 day moving average is $34.69. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $42.81.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The company had revenue of $168.76 million for the quarter, compared to analysts’ expectations of $162.20 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. Equities research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.