Vita Coco Company, Inc. $COCO Shares Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC boosted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 793.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 187,553 shares of the company’s stock after buying an additional 166,557 shares during the quarter. Lighthouse Investment Partners LLC owned 0.33% of Vita Coco worth $7,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Vita Coco by 93.0% in the third quarter. Bank of America Corp DE now owns 175,333 shares of the company’s stock worth $7,446,000 after acquiring an additional 84,464 shares during the period. Algert Global LLC lifted its position in Vita Coco by 252.6% during the third quarter. Algert Global LLC now owns 101,825 shares of the company’s stock valued at $4,325,000 after purchasing an additional 72,945 shares during the period. Alliancebernstein L.P. lifted its position in Vita Coco by 8.7% during the third quarter. Alliancebernstein L.P. now owns 42,540 shares of the company’s stock valued at $1,807,000 after purchasing an additional 3,390 shares during the period. Ameriprise Financial Inc. boosted its holdings in Vita Coco by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after purchasing an additional 737,823 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in Vita Coco in the third quarter valued at $1,535,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $60.60 on Tuesday. The firm has a 50-day simple moving average of $55.08 and a two-hundred day simple moving average of $48.76. The company has a market cap of $3.46 billion, a P/E ratio of 51.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.36. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $61.39.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same quarter last year, the business earned $0.06 earnings per share. Vita Coco’s revenue was up .4% on a year-over-year basis. Equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COCO shares. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $54.00 in a research note on Monday, November 17th. The Goldman Sachs Group upped their target price on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Morgan Stanley raised their target price on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Wells Fargo & Company lifted their price target on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Evercore reissued an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Insiders Place Their Bets

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the sale, the director directly owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jane Cecil Morreau sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the completion of the sale, the director owned 17,179 shares of the company’s stock, valued at $926,119.89. This trade represents a 46.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 122,800 shares of company stock worth $6,698,956. Company insiders own 34.20% of the company’s stock.

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.