Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New $520,000 Investment in Vita Coco Company, Inc. $COCO

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,844 shares of the company’s stock, valued at approximately $520,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after acquiring an additional 237,510 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after purchasing an additional 1,637,437 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock valued at $7,262,000 after purchasing an additional 35,937 shares during the last quarter. Pier Capital LLC acquired a new stake in shares of Vita Coco in the fourth quarter valued at approximately $7,318,000. Finally, Moran Wealth Management LLC increased its holdings in shares of Vita Coco by 219.0% in the first quarter. Moran Wealth Management LLC now owns 72,167 shares of the company’s stock valued at $3,458,000 after purchasing an additional 49,546 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ira Liran sold 74,232 shares of Vita Coco stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the completion of the sale, the director directly owned 309,871 shares of the company’s stock, valued at $24,879,542.59. The trade was a 19.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 30,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total value of $2,250,000.00. Following the completion of the transaction, the chief operating officer directly owned 57,910 shares in the company, valued at $4,343,250. The trade was a 34.13% 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. Insiders sold 596,950 shares of company stock valued at $43,711,695 in the last three months. 12.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COCO has been the topic of several research reports. Jefferies Financial Group upped their price objective on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup reissued a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Piper Sandler boosted their target price on Vita Coco from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wells Fargo & Company upped their price target on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Vita Coco Price Performance

COCO opened at $73.18 on Friday. The firm has a 50 day simple moving average of $75.67 and a 200 day simple moving average of $61.72. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.

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

About Vita Coco

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.