Castleark Management LLC Purchases 61,050 Shares of Vita Coco Company, Inc. $COCO

Castleark Management LLC grew its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 167.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,610 shares of the company’s stock after purchasing an additional 61,050 shares during the period. Castleark Management LLC owned approximately 0.17% of Vita Coco worth $4,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the last quarter. Quarry LP increased its position in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after buying an additional 958 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Jefferies Financial Group upped their price objective on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their target price on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $77.29.

Vita Coco Stock Performance

COCO opened at $67.35 on Tuesday. The stock has a fifty day moving average of $75.09 and a 200-day moving average of $62.53. The company has a market capitalization of $3.87 billion, a P/E ratio of 37.21, a P/E/G ratio of 1.48 and a beta of 0.77. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to the consensus estimate of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts predict that Vita Coco Company, Inc. will post 1.88 earnings per share for the current fiscal year.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 50,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $68.00, for a total value of $3,400,000.00. Following the completion of the transaction, the chairman directly owned 515,681 shares in the company, valued at approximately $35,066,308. This represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $63.75, for a total transaction of $2,550,000.00. Following the sale, the chief operating officer directly owned 57,910 shares in the company, valued at $3,691,762.50. The trade was a 40.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 546,950 shares of company stock worth $41,211,695 in the last 90 days. 12.90% of the stock is currently owned by company 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.