31,397 Shares in Vita Coco Company, Inc. $COCO Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 31,397 shares of the company’s stock, valued at approximately $1,664,000.

A number of other hedge funds have also recently made changes to their positions in COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Vita Coco by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after purchasing an additional 1,174 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the period. Marshall Wace LLP purchased a new position in shares of Vita Coco during the 2nd quarter worth approximately $9,627,000. Cerity Partners LLC purchased a new position in shares of Vita Coco during the 2nd quarter worth approximately $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vita Coco during the 2nd quarter worth approximately $2,990,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $4,343,250. This trade represents a 34.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider owned 59,085 shares in the company, valued at $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 three months, insiders sold 435,306 shares of company stock worth $26,054,832. 34.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COCO has been the subject of a number of research analyst reports. Zacks Research raised shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised their price target on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a research report on Thursday, April 30th. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Vita Coco Price Performance

Shares of COCO stock opened at $74.09 on Monday. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $79.70. The stock has a market capitalization of $4.23 billion, a PE ratio of 54.08, a P/E/G ratio of 1.78 and a beta of 0.74. The firm has a 50 day moving average of $62.07 and a two-hundred day moving average of $56.96.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $148.39 million. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue was up 37.4% compared to the same quarter last year. Analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

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.