SG Americas Securities LLC Purchases 22,334 Shares of Vita Coco Company, Inc. $COCO

SG Americas Securities LLC increased its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 93.3% in the first quarter, HoldingsChannel reports. The firm owned 46,274 shares of the company’s stock after purchasing an additional 22,334 shares during the quarter. SG Americas Securities LLC’s holdings in Vita Coco were worth $2,217,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after buying an additional 675 shares in the last quarter. Quarry LP boosted its holdings in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after buying an additional 227 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Ira Liran sold 74,232 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.29, for a total value of $5,960,087.28. Following the transaction, the director directly owned 309,871 shares of the company’s stock, valued at approximately $24,879,542.59. This trade represents a 19.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares in the company, valued at $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 705,306 shares of company stock worth $49,154,273. 32.30% of the stock is currently owned by insiders.

Vita Coco Stock Performance

NASDAQ COCO opened at $68.98 on Thursday. The stock has a 50-day moving average of $72.84 and a 200 day moving average of $60.31. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 1.59 and a beta of 0.77.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $179.77 million for the quarter, compared to the consensus estimate 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 for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COCO. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Zacks Research lowered shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group upped their price target on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and three have given 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 a consensus target price of $70.43.

About Vita Coco

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.