Wilmington Savings Fund Society FSB Acquires New Holdings in Vita Coco Company, Inc. $COCO

Wilmington Savings Fund Society FSB bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,479,049 shares of the company’s stock, valued at approximately $62,815,000. Vita Coco makes up about 1.4% of Wilmington Savings Fund Society FSB’s investment portfolio, making the stock its 12th largest position. Wilmington Savings Fund Society FSB owned approximately 2.60% of Vita Coco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Mariner LLC boosted its position in shares of Vita Coco by 2.8% during the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after purchasing an additional 236 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Vita Coco by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock worth $1,424,000 after buying an additional 298 shares during the period. Schroder Investment Management Group raised its stake in Vita Coco by 3.2% during the 2nd quarter. Schroder Investment Management Group now owns 12,041 shares of the company’s stock worth $435,000 after buying an additional 376 shares during the period. Cim LLC lifted its holdings in Vita Coco by 3.8% during the second quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after acquiring an additional 514 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after acquiring an additional 675 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on COCO. Morgan Stanley increased their price target on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Piper Sandler lifted their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Evercore restated an “outperform” rating and set a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $58.14 on Wednesday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 49.27, a price-to-earnings-growth ratio of 1.91 and a beta of 0.37. The stock’s 50-day moving average is $55.20 and its 200-day moving average is $48.91. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $61.39.

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

Insider Activity

In other news, CMO Jane Prior sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $52.92, for a total transaction of $2,646,000.00. Following the completion of the transaction, the chief marketing officer directly owned 127,399 shares of the company’s stock, valued at $6,741,955.08. This trade represents a 28.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $57.98, for a total transaction of $115,960.00. Following the completion of the sale, the chief financial officer directly owned 31,951 shares in the company, valued at approximately $1,852,518.98. This represents a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 122,900 shares of company stock worth $6,731,318. 34.20% of the stock is currently owned by insiders.

Vita Coco Company 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.