Oregon Public Employees Retirement Fund Purchases New Position in Vita Coco Company, Inc. $COCO

Oregon Public Employees Retirement Fund acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,200 shares of the company’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position 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 acquiring an additional 501 shares in the last quarter. Quarry LP increased its stake in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Vita Coco by 265.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after purchasing an additional 958 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake 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 valued at $49,000 after purchasing an additional 1,344 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

Vita Coco stock opened at $74.03 on Wednesday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 54.04, a P/E/G ratio of 1.78 and a beta of 0.77. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83. The firm has a fifty day moving average price of $75.41 and a two-hundred day moving average price of $61.34.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was up 37.4% compared to the same quarter last year. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COCO shares. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wells Fargo & Company raised their target price on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Finally, Morgan Stanley set a $65.00 target price on Vita Coco in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $68.00, for a total transaction of $3,400,000.00. Following the completion of the transaction, the chairman directly owned 515,681 shares in the company, valued at $35,066,308. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 40,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total transaction of $2,550,000.00. Following the completion of the sale, the chief operating officer owned 57,910 shares in the company, valued at approximately $3,691,762.50. The trade was a 40.85% decrease in their position. 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 90 days, insiders sold 621,950 shares of company stock valued at $44,961,695. Corporate insiders own 12.90% 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.