31,397 Shares in Vita Coco Company, Inc. $COCO Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. purchased a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,397 shares of the company’s stock, valued at approximately $1,664,000. Cookson Peirce & Co. Inc. owned about 0.06% of Vita Coco as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of COCO. Westfield Capital Management Co. LP raised its holdings in Vita Coco by 1.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,073,610 shares of the company’s stock valued at $56,912,000 after acquiring an additional 10,849 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Vita Coco by 130.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 547,886 shares of the company’s stock valued at $29,043,000 after acquiring an additional 310,445 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Vita Coco by 234.1% in the 4th quarter. BNP Paribas Financial Markets now owns 89,444 shares of the company’s stock valued at $4,741,000 after acquiring an additional 62,675 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in Vita Coco in the 4th quarter valued at about $339,000. Finally, Norges Bank acquired a new stake in Vita Coco in the 4th quarter valued at about $1,151,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $74.09 on Monday. The company has a 50 day simple moving average of $62.07 and a 200-day simple moving average of $56.96. The company has a market capitalization of $4.23 billion, a P/E ratio of 54.08, a P/E/G ratio of 1.78 and a beta of 0.74. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $79.70.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business’s revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wells Fargo & Company increased their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Evercore reiterated an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Finally, Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Insider Buying and Selling at Vita Coco

In other news, CEO Martin Roper sold 20,544 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $59.35, for a total transaction of $1,219,286.40. Following the completion of the sale, the chief executive officer owned 298,484 shares in the company, valued at $17,715,025.40. This trade represents a 6.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the sale, the chief operating officer owned 57,910 shares of the company’s stock, valued at $4,343,250. This represents a 34.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 435,306 shares of company stock worth $26,054,832. Insiders own 34.20% of the company’s stock.

About Vita Coco

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.