TT International Asset Management LTD Purchases 22,237 Shares of Vita Coco Company, Inc. $COCO

TT International Asset Management LTD purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, Holdings Channel reports. The fund purchased 22,237 shares of the company’s stock, valued at approximately $1,273,000. Vita Coco accounts for approximately 0.1% of TT International Asset Management LTD’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in Vita Coco by 11.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 11,071 shares of the company’s stock worth $634,000 after buying an additional 1,100 shares during the last quarter. Signature Equity Partners LLC bought a new position in Vita Coco during the third quarter valued at about $42,000. State of Wyoming lifted its position in shares of Vita Coco by 25.6% in the third quarter. State of Wyoming now owns 4,127 shares of the company’s stock worth $236,000 after buying an additional 841 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Vita Coco by 137.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 40,200 shares of the company’s stock worth $2,302,000 after buying an additional 23,300 shares during the last quarter. Finally, BOKF NA boosted its stake in shares of Vita Coco by 26.8% during the 3rd quarter. BOKF NA now owns 3,168 shares of the company’s stock worth $181,000 after acquiring an additional 669 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

COCO has been the topic of a number of analyst reports. The Goldman Sachs Group set a $90.00 price objective on Vita Coco and gave the company a “buy” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Wells Fargo & Company decreased their target price on Vita Coco from $85.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Weiss Ratings downgraded Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, Piper Sandler increased their price target on Vita Coco from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $74.12.

Vita Coco Price Performance

Vita Coco stock opened at $59.69 on Wednesday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 1.49 and a beta of 0.76. Vita Coco Company, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $85.83. The firm has a fifty day moving average price of $57.26 and a two-hundred day moving average price of $61.66.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $243.83 million for the quarter, compared to the consensus estimate of $230.10 million. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 2.06 earnings per share for the current year.

Vita Coco Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.