Vita Coco Company, Inc. $COCO Shares Newly Bought by Alps Advisors Inc.

Alps Advisors Inc. purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, HoldingsChannel reports. The fund purchased 10,550 shares of the company’s stock, valued at approximately $604,000.

A number of other large investors have also recently modified their holdings of COCO. Kestra Advisory Services LLC purchased a new stake in Vita Coco in the third quarter valued at approximately $254,000. Conestoga Capital Advisors LLC boosted its stake in shares of Vita Coco by 31.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 48,440 shares of the company’s stock valued at $2,773,000 after purchasing an additional 11,490 shares in the last quarter. TT International Asset Management LTD bought a new position in shares of Vita Coco during the 3rd quarter valued at $1,273,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Vita Coco by 11.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,071 shares of the company’s stock valued at $634,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Signature Equity Partners LLC bought a new stake in shares of Vita Coco in the 3rd quarter valued at about $42,000. Institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Corey Baker sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. Following the sale, the chief financial officer owned 24,951 shares in the company, valued at approximately $1,621,815. This trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.90% of the stock is currently owned by company insiders.

Vita Coco Stock Performance

COCO stock opened at $63.12 on Friday. Vita Coco Company, Inc. has a 52-week low of $43.11 and a 52-week high of $85.83. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 1.66 and a beta of 0.76. The firm has a 50 day moving average price of $57.98 and a 200-day moving average price of $62.10.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. William Blair reissued a “market perform” rating on shares of Vita Coco in a report on Thursday, October 22nd. Weiss Ratings cut shares of Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Evercore reissued an “outperform” rating on shares of Vita Coco in a research report on Friday, October 23rd. Finally, The Goldman Sachs Group set a $90.00 price target on shares of Vita Coco and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.12.

About Vita Coco

The Vita Coco Company, Inc. develops, markets and distributes plant-based beverages. Its best-known product is Vita Coco coconut water, and its portfolio also includes coconut milk, coconut oil and other hydration products, including the PWR LIFT brand. Founded in 2004 by Michael Kirban and Ira Liran, the company helped build the packaged coconut water category in the United States. It sells products through retail and online channels in the U.S. and international markets.