Castleark Management LLC Has $4.68 Million Holdings in Vita Coco Company, Inc. $COCO

Castleark Management LLC boosted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 167.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 97,610 shares of the company’s stock after acquiring an additional 61,050 shares during the period. Castleark Management LLC’s holdings in Vita Coco were worth $4,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after acquiring an additional 501 shares during the last quarter. Quarry LP lifted its position in Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after acquiring an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the last quarter. GAMMA Investing LLC increased its holdings in Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Vita Coco by 265.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock worth $70,000 after purchasing an additional 958 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 30,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at approximately $4,343,250. This represents a 34.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the transaction, the insider directly owned 59,085 shares of the company’s stock, valued at approximately $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 546,950 shares of company stock valued at $41,211,695. Corporate insiders own 12.90% of the company’s stock.

Vita Coco Price Performance

Shares of COCO opened at $67.35 on Tuesday. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $85.83. The stock’s fifty day moving average price is $75.09 and its two-hundred day moving average price is $62.53. The firm has a market cap of $3.87 billion, a PE ratio of 37.21, a PEG ratio of 1.48 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $216.15 million for the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. Vita Coco’s revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COCO. The Goldman Sachs Group set a $90.00 target price on Vita Coco and gave the company a “buy” rating in a report on Thursday. Evercore increased their price target on Vita Coco from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler raised their price objective on Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company increased their target price 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.29.

Vita Coco 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.