Vita Coco Company, Inc. $COCO Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lifted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 31.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,440 shares of the company’s stock after buying an additional 11,490 shares during the period. Conestoga Capital Advisors LLC’s holdings in Vita Coco were worth $2,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of COCO. Fortitude Family Office LLC lifted its holdings in Vita Coco by 611.4% in the third quarter. Fortitude Family Office LLC now owns 626 shares of the company’s stock worth $36,000 after acquiring an additional 538 shares during the last quarter. Signature Equity Partners LLC bought a new position in shares of Vita Coco during the third quarter valued at approximately $42,000. IFP Advisors Inc raised its position in shares of Vita Coco by 210.4% during the 2nd quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $46,000 after purchasing an additional 467 shares during the period. Rockefeller Capital Management L.P. raised its position 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 worth $70,000 after purchasing an additional 958 shares during the period. Finally, KBC Group NV bought a new stake in shares of Vita Coco in the 1st quarter worth approximately $86,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Up 9.7%

Shares of NASDAQ:COCO opened at $65.47 on Thursday. The company has a 50 day moving average of $57.30 and a 200-day moving average of $61.73. The firm has a market cap of $3.74 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.53 and a beta of 0.76. Vita Coco Company, Inc. has a twelve month low of $39.85 and a twelve month high of $85.83.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. Vita Coco had a return on equity of 31.84% and a net margin of 15.70%. The business had revenue of $243.83 million during the quarter, compared to analyst estimates of $230.10 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 33.7% on a year-over-year basis. Equities research analysts forecast that Vita Coco Company, Inc. will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COCO. Piper Sandler upped their price objective on Vita Coco from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Morgan Stanley upped their price target on shares of Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings cut shares of Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, William Blair reiterated a “market perform” rating on shares of Vita Coco in a research report on Thursday, October 22nd. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.12.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.