Simplicity Wealth LLC Takes $506,000 Position in Vita Coco Company, Inc. $COCO

Simplicity Wealth LLC acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,645 shares of the company’s stock, valued at approximately $506,000.

Several other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after acquiring an additional 1,174 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Vita Coco during the second quarter worth $9,627,000. Cerity Partners LLC purchased a new stake in shares of Vita Coco during the 2nd quarter valued at $645,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Vita Coco during the 2nd quarter valued at $2,990,000. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 73,842 shares of Vita Coco stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $5,930,989.44. Following the completion of the sale, the director directly owned 402,579 shares in the company, valued at approximately $32,335,145.28. The trade was a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares in the company, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 355,845 shares of company stock worth $28,309,399. Company insiders own 12.90% of the company’s stock.

Vita Coco Stock Performance

Vita Coco stock opened at $65.50 on Tuesday. The business’s 50-day simple moving average is $71.88 and its two-hundred day simple moving average is $63.73. The company has a market cap of $3.76 billion, a PE ratio of 36.19, a PEG ratio of 1.23 and a beta of 0.77. Vita Coco Company, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Vita Coco’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, analysts predict that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COCO. Jefferies Financial Group boosted their target price 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 raised their price target on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Evercore upped their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Vita Coco in a research note on Wednesday, July 29th. Finally, Morgan Stanley boosted their target price on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus target price of $77.71.

Vita Coco 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.