Oregon Public Employees Retirement Fund Buys New Shares in Vita Coco Company, Inc. $COCO

Oregon Public Employees Retirement Fund acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,200 shares of the company’s stock, valued at approximately $489,000.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of 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 purchasing an additional 1,637,437 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco in the third quarter valued at $62,815,000. Wellington Management Group LLP lifted its position in Vita Coco by 232.2% in the third quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Vita Coco in the fourth quarter worth $73,242,000. Finally, Millennium Management LLC lifted its position in Vita Coco by 164.7% in the third quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Vita Coco stock opened at $74.03 on Wednesday. The firm has a market capitalization of $4.23 billion, a P/E ratio of 54.04, a P/E/G ratio of 1.78 and a beta of 0.77. The stock has a fifty day moving average price of $75.41 and a two-hundred day moving average price of $61.34. Vita Coco Company, Inc. has a 52-week low of $31.79 and a 52-week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter in the previous year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, equities research analysts predict that Vita Coco Company, Inc. will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price target on shares of Vita Coco from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Jefferies Financial Group lifted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Wells Fargo & Company lifted their price objective on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Insider Activity

In other news, COO Jonathan Burth sold 30,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer owned 57,910 shares in the company, valued at approximately $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction that occurred 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 directly owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% 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 621,950 shares of company stock worth $44,961,695. Corporate insiders own 12.90% of the company’s stock.

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.