Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New Investment in Vita Coco Company, Inc. $COCO

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the first quarter, HoldingsChannel reports. The fund purchased 10,844 shares of the company’s stock, valued at approximately $520,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COCO. Wasatch Advisors LP increased its position in shares of Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after acquiring an additional 237,510 shares in the last quarter. Wellington Management Group LLP grew its stake in Vita Coco by 22.1% in the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock valued at $128,940,000 after acquiring an additional 439,958 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Vita Coco in the fourth quarter worth about $73,242,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock worth $54,460,000 after acquiring an additional 737,823 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total transaction of $2,550,000.00. Following the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,691,762.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the transaction, the director owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 596,950 shares of company stock worth $43,711,695 in the last three months. 12.90% of the stock is currently owned by company insiders.

Vita Coco Stock Down 0.1%

NASDAQ:COCO opened at $73.18 on Friday. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $85.83. The business has a 50 day moving average price of $75.67 and a two-hundred day moving average price of $61.72. The company has a market cap of $4.18 billion, a P/E ratio of 53.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was up 37.4% compared to the same quarter last year. As a group, analysts anticipate that Vita Coco Company, Inc. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COCO shares. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. Finally, Jefferies Financial Group upped their price target on shares of Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.00.

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.