Capstone Investment Advisors LLC Acquires Shares of 27,261 Vita Coco Company, Inc. $COCO

Capstone Investment Advisors LLC acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 27,261 shares of the company’s stock, valued at approximately $1,803,000.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Quarry LP boosted its holdings in Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after purchasing an additional 958 shares in the last quarter. Finally, CWM LLC grew its position in Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Down 1.9%

COCO opened at $61.63 on Friday. Vita Coco Company, Inc. has a 12 month low of $34.26 and a 12 month high of $85.83. The company has a market cap of $3.54 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a 50 day moving average of $69.16 and a 200 day moving average of $64.18.

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

Analyst Ratings Changes

Several equities analysts have commented on COCO shares. Evercore lifted their target price on shares of Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company increased their price target on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Jefferies Financial Group lifted their price target on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Piper Sandler reissued an “overweight” rating on shares of Vita Coco in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.71.

Insider Buying and Selling

In related news, 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 sale, the insider owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. This represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 73,842 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the completion of the transaction, the director owned 402,579 shares of the company’s stock, valued at approximately $32,335,145.28. This represents a 15.50% 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. In the last quarter, insiders have sold 351,945 shares of company stock valued at $28,007,266. Corporate insiders own 12.90% of the company’s stock.

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.