SG Americas Securities LLC Acquires 11,627 Shares of Vita Coco Company, Inc. $COCO

SG Americas Securities LLC boosted its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 94.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,940 shares of the company’s stock after acquiring an additional 11,627 shares during the period. SG Americas Securities LLC’s holdings in Vita Coco were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COCO. Wilmington Savings Fund Society FSB bought a new stake in Vita Coco in the 3rd quarter valued at $62,815,000. Wellington Management Group LLP grew its holdings in Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock valued at $84,617,000 after buying an additional 1,392,678 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Vita Coco in the 3rd quarter valued at $45,135,000. Millennium Management LLC grew its holdings in Vita Coco by 164.7% in the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock valued at $52,060,000 after buying an additional 762,731 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Vita Coco by 135.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock valued at $54,460,000 after buying an additional 737,823 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COCO. Morgan Stanley upped their price objective on Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Wall Street Zen lowered Vita Coco from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company upped their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a report on Friday, March 27th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

Vita Coco Stock Performance

COCO opened at $49.22 on Wednesday. The firm has a market cap of $2.81 billion, a P/E ratio of 41.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. Vita Coco Company, Inc. has a 52-week low of $27.43 and a 52-week high of $61.39. The business’s fifty day moving average is $54.30 and its 200-day moving average is $50.21.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. On average, research analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, CMO Jane Prior sold 50,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the sale, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at approximately $6,741,955.08. This represents a 28.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Es Charles Van sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $48.67, for a total value of $97,340.00. Following the sale, the insider directly owned 77,691 shares in the company, valued at approximately $3,781,220.97. This trade represents a 2.51% decrease in their ownership of the stock. 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. Insiders sold a total of 192,800 shares of company stock worth $10,801,686 in the last quarter. 32.30% of the stock is currently owned by corporate insiders.

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.