Versor Investments LP Purchases 2,928 Shares of Vita Coco Company, Inc. $COCO

Versor Investments LP lifted its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,428 shares of the company’s stock after acquiring an additional 2,928 shares during the quarter. Versor Investments LP’s holdings in Vita Coco were worth $485,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of COCO. Voya Investment Management LLC raised its holdings in shares of Vita Coco by 3,376.9% in the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after purchasing an additional 570,087 shares in the last quarter. Wellington Management Group LLP raised its stake in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock worth $15,676,000 after buying an additional 258,521 shares in the last quarter. Victory Capital Management Inc. raised its stake in Vita Coco by 62.2% in the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock worth $19,776,000 after buying an additional 247,339 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in Vita Coco in the second quarter worth approximately $5,054,000. Finally, Driehaus Capital Management LLC raised its stake in Vita Coco by 14.4% in the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock worth $29,954,000 after buying an additional 122,674 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COCO. Needham & Company LLC began coverage on Vita Coco in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Piper Sandler set a $47.00 target price on shares of Vita Coco and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Evercore ISI boosted their target price on shares of Vita Coco from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Bank of America boosted their price objective on shares of Vita Coco from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Vita Coco from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Hold” and a consensus target price of $45.29.

Insiders Place Their Bets

In related news, insider Es Charles Van sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.04, for a total value of $840,800.00. Following the transaction, the insider owned 84,328 shares in the company, valued at approximately $3,545,149.12. This represents a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Burth sold 22,334 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $45.94, for a total transaction of $1,026,023.96. Following the completion of the transaction, the chief operating officer owned 76,127 shares in the company, valued at approximately $3,497,274.38. This trade represents a 22.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,601,532 shares of company stock valued at $147,494,947. Insiders own 34.20% of the company’s stock.

Vita Coco Trading Down 2.3%

Shares of Vita Coco stock opened at $39.88 on Wednesday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $48.67. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.55 and a beta of 0.39. The firm’s 50 day simple moving average is $40.17 and its two-hundred day simple moving average is $36.87.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The business had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. During the same quarter in the prior year, the business posted $0.32 EPS. Vita Coco’s revenue for the quarter was up 37.2% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 EPS 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.