King Luther Capital Management Corp Makes New $4.29 Million Investment in Vita Coco Company, Inc. $COCO

by · The Markets Daily

King Luther Capital Management Corp purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 101,050 shares of the company’s stock, valued at approximately $4,292,000. King Luther Capital Management Corp owned 0.18% of Vita Coco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Vita Coco in the 3rd quarter valued at about $62,815,000. Marshall Wace LLP acquired a new stake in shares of Vita Coco in the second quarter valued at approximately $9,627,000. Cubist Systematic Strategies LLC bought a new stake in shares of Vita Coco during the second quarter valued at approximately $4,385,000. BNP Paribas Financial Markets boosted its position in shares of Vita Coco by 1,181.7% during the second quarter. BNP Paribas Financial Markets now owns 112,291 shares of the company’s stock worth $4,054,000 after buying an additional 103,530 shares during the period. Finally, Seven Grand Managers LLC bought a new position in Vita Coco in the 2nd quarter worth approximately $3,610,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of COCO opened at $53.96 on Friday. The company has a 50-day moving average of $54.29 and a two-hundred day moving average of $46.12. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.47 and a beta of 0.38. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $59.88.

Vita Coco (NASDAQ:COCO – Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The firm had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

COCO has been the topic of several recent analyst reports. Zacks Research downgraded Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Piper Sandler lifted their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and increased their target price for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Morgan Stanley boosted their price target on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Finally, Wells Fargo & Company upped their price target on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.88.

Get Our Latest Research Report on COCO

Insiders Place Their Bets

In related news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the sale, the director directly owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This represents a 0.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $56.65, for a total value of $1,699,500.00. Following the sale, the director owned 572,579 shares of the company’s stock, valued at $32,436,600.35. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 117,043 shares of company stock valued at $6,222,959 in the last 90 days. Corporate insiders own 32.30% of the company’s stock.

About Vita Coco

(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.

Featured Stories

Want to see what other hedge funds are holding COCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vita Coco Company, Inc. (NASDAQ:COCO – Free Report).