Vita Coco Company, Inc. $COCO Shares Bought by Moody Aldrich Partners LLC

by · The Cerbat Gem

Moody Aldrich Partners LLC boosted its holdings in Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,100 shares of the company’s stock after acquiring an additional 9,577 shares during the period. Moody Aldrich Partners LLC’s holdings in Vita Coco were worth $4,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp boosted its stake in Vita Coco by 3.4% during the 1st quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock valued at $13,026,000 after purchasing an additional 13,814 shares during the period. PDT Partners LLC increased its position in shares of Vita Coco by 133.1% during the 1st quarter. PDT Partners LLC now owns 64,108 shares of the company’s stock valued at $1,965,000 after purchasing an additional 36,610 shares during the period. Raymond James Financial Inc. raised its position in Vita Coco by 4.1% in the first quarter. Raymond James Financial Inc. now owns 225,307 shares of the company’s stock worth $6,906,000 after acquiring an additional 8,960 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Vita Coco in the 3rd quarter worth approximately $821,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Vita Coco during the 2nd quarter valued at $1,049,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Down 0.8%

NASDAQ COCO opened at $53.01 on Thursday. The stock has a market capitalization of $3.02 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.37. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $55.29. The company has a 50 day moving average price of $48.89 and a two-hundred day moving average price of $41.56.

Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The business’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, equities analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on COCO shares. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and upped their price target for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Jefferies Financial Group upped their price objective on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Needham & Company LLC began coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their target price on shares of Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Evercore ISI boosted their price target on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.88.

Read Our Latest Stock Report on Vita Coco

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 22,334 shares of Vita Coco stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $45.94, for a total transaction of $1,026,023.96. Following the sale, the chief operating officer directly owned 76,127 shares in the company, valued at approximately $3,497,274.38. The trade was a 22.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $45.70, for a total value of $1,371,000.00. Following the completion of the sale, the chairman owned 1,499,049 shares in the company, valued at approximately $68,506,539.30. This represents a 1.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 397,047 shares of company stock valued at $18,345,260 in the last ninety days. 32.30% of the stock is currently owned by insiders.

Vita Coco Company Profile

(Free Report)

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.

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