Great Lakes Advisors LLC Purchases New Position in Vita Coco Company, Inc. $COCO

Great Lakes Advisors LLC purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,109 shares of the company’s stock, valued at approximately $1,264,000.

A number of other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after acquiring an additional 501 shares in the last quarter. Quarry LP raised its position in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after acquiring an additional 758 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after purchasing an additional 958 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the period. Finally, CWM LLC boosted its position in shares of Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COCO. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Morgan Stanley raised their price objective on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Vita Coco in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and an average target price of $77.71.

Insider Buying and Selling at Vita Coco

In related news, Director Ira Liran sold 96,158 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the transaction, the director owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Es Charles Van sold 8,045 shares of the stock in a transaction 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 sale, the insider owned 59,085 shares of the company’s stock, valued at $4,434,329.25. The trade was a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 351,945 shares of company stock valued at $28,007,266 over the last 90 days. 12.90% of the stock is currently owned by corporate insiders.

Vita Coco Stock Down 2.8%

Shares of Vita Coco stock opened at $63.35 on Friday. Vita Coco Company, Inc. has a twelve month low of $33.19 and a twelve month high of $85.83. The company’s 50 day moving average is $70.82 and its 200 day moving average is $63.96. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data 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 company had revenue of $216.15 million during the quarter, compared to analysts’ expectations of $210.64 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. Vita Coco’s revenue for the quarter was up 28.1% compared to the same quarter last year. Sell-side analysts expect that Vita Coco Company, Inc. will post 1.96 EPS for the current fiscal year.

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.