Pictet Asset Management Holding SA Sells 178,587 Shares of Vita Coco Company, Inc. $COCO

Pictet Asset Management Holding SA trimmed its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 70.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,821 shares of the company’s stock after selling 178,587 shares during the period. Pictet Asset Management Holding SA owned about 0.13% of Vita Coco worth $3,633,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Vita Coco by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the last quarter. CWM LLC lifted its holdings in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC boosted its stake in shares of Vita Coco by 2.8% in the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Vita Coco by 4.1% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after purchasing an additional 489 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Activity

In other news, Director Ira Liran sold 96,158 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the completion of the sale, the director directly owned 476,421 shares in the company, valued at approximately $37,703,957.94. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total value of $2,550,000.00. Following the completion of the sale, the chief operating officer directly owned 57,910 shares in the company, valued at $3,691,762.50. The trade was a 40.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 705,306 shares of company stock worth $49,154,273 over the last ninety days. 32.30% of the stock is owned by insiders.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $66.16 on Friday. Vita Coco Company, Inc. has a 52-week low of $31.79 and a 52-week high of $85.83. The company’s 50 day moving average price is $73.61 and its 200-day moving average price is $60.44. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 1.59 and a beta of 0.77.

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

Analyst Ratings Changes

A number of brokerages recently commented on COCO. Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research 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. Wells Fargo & Company lifted their price objective on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Morgan Stanley set a $65.00 target price on Vita Coco in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.