RFG Advisory LLC Acquires New Stake in Vita Coco Company, Inc. $COCO

RFG Advisory LLC acquired a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 28,119 shares of the company’s stock, valued at approximately $1,491,000.

Several other large investors also recently added to or reduced their stakes in COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after buying an additional 1,174 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 valued at $49,000 after buying an additional 1,344 shares during the period. Marshall Wace LLP bought a new stake in Vita Coco during the second quarter valued at $9,627,000. Cerity Partners LLC bought a new stake in Vita Coco during the second quarter valued at $645,000. Finally, Qube Research & Technologies Ltd bought a new stake in Vita Coco during the second quarter valued at $2,990,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COCO shares. Piper Sandler reissued an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a research note on Wednesday, April 29th. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Jefferies Financial Group lifted their price target on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Vita Coco Stock Up 5.0%

Shares of COCO stock opened at $71.60 on Friday. The business has a 50-day moving average price of $53.54 and a two-hundred day moving average price of $51.94. Vita Coco Company, Inc. has a 12-month low of $30.54 and a 12-month high of $72.98. The firm has a market cap of $4.09 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue was up 37.4% compared to the same quarter last year. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CMO Jane Prior sold 50,000 shares of Vita Coco stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $52.92, for a total value of $2,646,000.00. Following the transaction, the chief marketing officer owned 127,399 shares in the company, valued at approximately $6,741,955.08. The trade was a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 50,000 shares of Vita Coco stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $68.00, for a total value of $3,400,000.00. Following the completion of the transaction, the chairman owned 515,681 shares in the company, valued at approximately $35,066,308. This represents a 8.84% 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 have sold a total of 429,800 shares of company stock worth $24,354,302 in the last ninety days. Corporate insiders own 32.30% of the company’s stock.

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.