Legal & General Group Plc Takes Position in Vita Coco Company, Inc. $COCO

Legal & General Group Plc acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 2nd quarter, Holdings Channel reports. The firm acquired 106,650 shares of the company’s stock, valued at approximately $7,057,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Vita Coco in the 2nd quarter valued at about $463,654,000. Wasatch Advisors LP raised its stake in Vita Coco by 80.3% in the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares during the period. Vanguard Group Inc. raised its stake in Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares during the period. Wellington Management Group LLP lifted its position in shares of Vita Coco by 22.1% in the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after buying an additional 439,958 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Vita Coco in the fourth quarter valued at approximately $73,242,000. 88.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 73,842 shares of the company’s stock in a transaction on Friday, June 12th. The stock was 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 $32,335,145.28. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 343,900 shares of company stock worth $27,403,488. 12.90% of the stock is currently owned by insiders.

Vita Coco Trading Down 0.6%

Shares of NASDAQ COCO opened at $57.69 on Thursday. The firm has a market cap of $3.31 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.75. The business’s 50 day moving average is $67.24 and its 200-day moving average is $64.22. Vita Coco Company, Inc. has a 1-year low of $35.99 and a 1-year high of $85.83.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. Vita Coco’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. Analysts forecast that Vita Coco Company, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COCO. Evercore boosted their target price on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Morgan Stanley raised their price target on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Piper Sandler reissued an “overweight” rating on shares of Vita Coco in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $77.71.

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.