Westfield Capital Management Co. LP Acquires 10,849 Shares of Vita Coco Company, Inc. $COCO

Westfield Capital Management Co. LP lifted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073,610 shares of the company’s stock after purchasing an additional 10,849 shares during the period. Westfield Capital Management Co. LP owned 1.89% of Vita Coco worth $56,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC boosted its position in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares in the last quarter. Quarry LP boosted its holdings in Vita Coco by 12,633.3% in the third 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. EverSource Wealth Advisors LLC boosted its holdings in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Vita Coco by 18.2% in 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. Institutional investors own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 50,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $68.00, for a total value of $3,400,000.00. Following the sale, the chairman directly owned 515,681 shares of the company’s stock, valued at approximately $35,066,308. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the sale, the insider directly owned 59,085 shares in the company, valued at approximately $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 90 days, insiders sold 435,306 shares of company stock valued at $26,054,832. Company insiders own 32.30% of the company’s stock.

Vita Coco Price Performance

NASDAQ:COCO opened at $74.09 on Friday. The business has a fifty day simple moving average of $62.07 and a two-hundred day simple moving average of $56.88. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $79.70. The company has a market capitalization of $4.23 billion, a P/E ratio of 54.08, a P/E/G ratio of 1.77 and a beta of 0.74.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on COCO. Citigroup restated a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Morgan Stanley set a $65.00 price target on Vita Coco in a research report on Thursday, April 30th. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 target price on shares of Vita Coco in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.43.

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.