Hussman Strategic Advisors Inc. Takes Position in Vita Coco Company, Inc. $COCO

Hussman Strategic Advisors Inc. acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 52,500 shares of the company’s stock, valued at approximately $2,230,000.

Several other hedge funds have also recently added to or reduced their stakes in COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock valued at $720,000 after purchasing an additional 1,174 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Vita Coco in the 2nd quarter valued at approximately $50,000. Capricorn Fund Managers Ltd acquired a new stake in Vita Coco during the 2nd quarter valued at $5,054,000. Simplicity Wealth LLC increased its position in Vita Coco by 68.9% during the second quarter. Simplicity Wealth LLC now owns 17,586 shares of the company’s stock worth $635,000 after buying an additional 7,171 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of Vita Coco by 3.9% in the second quarter. Moran Wealth Management LLC now owns 19,376 shares of the company’s stock worth $699,000 after acquiring an additional 731 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Stock Up 0.2%

COCO stock opened at $54.98 on Wednesday. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 1.55 and a beta of 0.38. The business has a fifty day simple moving average of $53.21 and a 200-day simple moving average of $43.93. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $56.46.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $182.31 million for 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 firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COCO has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Vita Coco from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Evercore ISI boosted their price objective on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, The Goldman Sachs Group boosted their price target on Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 33,862 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $50.27, for a total transaction of $1,702,242.74. Following the completion of the sale, the director owned 602,579 shares in the company, valued at approximately $30,291,646.33. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Zupo sold 10,000 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the sale, the director directly owned 12,162 shares of the company’s stock, valued at approximately $531,722.64. This trade represents a 45.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 226,819 shares of company stock valued at $10,761,232. 34.20% of the stock is currently owned by company insiders.

Vita Coco Company 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.