UBS Group AG Sells 172,308 Shares of Vita Coco Company, Inc. $COCO

UBS Group AG decreased its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 35.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,594 shares of the company’s stock after selling 172,308 shares during the period. UBS Group AG’s holdings in Vita Coco were worth $16,518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Vita Coco by 25.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 28,559 shares of the company’s stock worth $1,514,000 after buying an additional 5,737 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after purchasing an additional 237,510 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vita Coco by 33.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,652 shares of the company’s stock worth $1,095,000 after purchasing an additional 5,171 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of Vita Coco by 10.0% during the 4th quarter. Moran Wealth Management LLC now owns 22,621 shares of the company’s stock valued at $1,199,000 after purchasing an additional 2,062 shares during the last quarter. Finally, CWM LLC increased its position in shares of Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 3.0%

Shares of NASDAQ:COCO opened at $74.61 on Wednesday. The stock has a market cap of $4.26 billion, a PE ratio of 54.46, a PEG ratio of 1.74 and a beta of 0.72. The company’s fifty day moving average is $54.50 and its 200 day moving average is $52.62. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $75.64.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $0.31 EPS. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Insider Activity

In related news, COO Jonathan Burth sold 20,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief operating officer directly owned 57,910 shares in the company, valued at $4,053,700. This represents a 25.67% decrease in their position. The transaction 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, Chairman Michael Kirban sold 50,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the sale, the chairman owned 515,681 shares of the company’s stock, valued at $35,066,308. This represents a 8.84% 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. Over the last quarter, insiders have sold 458,361 shares of company stock valued at $26,353,572. 34.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COCO. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Evercore reissued an “outperform” rating and set a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $70.00 target price on shares of Vita Coco in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.