29,071 Shares in Vita Coco Company, Inc. $COCO Bought by Capital Fund Management S.A.

Capital Fund Management S.A. bought a new position in Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 29,071 shares of the company’s stock, valued at approximately $1,049,000. Capital Fund Management S.A. owned approximately 0.05% of Vita Coco as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in COCO. MAI Capital Management acquired a new position in shares of Vita Coco in the second quarter valued at approximately $33,000. Ameritas Advisory Services LLC bought a new stake in Vita Coco during the 2nd quarter worth approximately $50,000. Militia Capital Partners LP increased its position in Vita Coco by 60.0% in the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock valued at $98,000 after acquiring an additional 1,200 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Vita Coco during the first quarter valued at $111,000. Finally, Amitell Capital Pte Ltd acquired a new position in shares of Vita Coco during the second quarter worth $114,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COCO has been the subject of a number of recent research reports. Evercore ISI increased their price objective on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Jefferies Financial Group raised their price objective on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research note on Monday. Needham & Company LLC assumed coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Zacks Research upgraded shares of Vita Coco from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Seven 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 has an average rating of “Moderate Buy” and an average target price of $51.88.

Insider Buying and Selling

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $40.77, for a total value of $122,310,000.00. Following the completion of the sale, the insider directly owned 4,097,161 shares in the company, valued at approximately $167,041,253.97. This trade represents a 42.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the transaction, the chairman owned 1,599,049 shares in the company, valued at $62,618,758.84. This represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,784,153 shares of company stock valued at $156,384,633 over the last ninety days. 32.30% of the stock is owned by corporate insiders.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $54.56 on Friday. The stock’s 50-day moving average is $44.61 and its 200 day moving average is $39.22. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $55.09. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 1.79 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The company’s revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, sell-side analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.