Thrivent Financial for Lutherans Has $10.98 Million Position in Vita Coco Company, Inc. $COCO

Thrivent Financial for Lutherans reduced its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 207,052 shares of the company’s stock after selling 20,068 shares during the period. Thrivent Financial for Lutherans’ holdings in Vita Coco were worth $10,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco during the 3rd quarter worth about $62,815,000. Wellington Management Group LLP increased its stake in shares of Vita Coco by 232.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after purchasing an additional 1,392,678 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Vita Coco during the 3rd quarter worth about $45,135,000. Millennium Management LLC increased its stake in shares of Vita Coco by 164.7% during the 3rd quarter. Millennium Management LLC now owns 1,225,803 shares of the company’s stock worth $52,060,000 after purchasing an additional 762,731 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Vita Coco by 135.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,282,310 shares of the company’s stock worth $54,460,000 after purchasing an additional 737,823 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Performance

Shares of COCO opened at $76.45 on Wednesday. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $79.70. The firm has a market cap of $4.37 billion, a P/E ratio of 55.80, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The firm’s 50-day simple moving average is $56.84 and its 200 day simple moving average is $53.86.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. During the same quarter in the prior year, the business earned $0.31 EPS. Vita Coco’s quarterly revenue was up 37.4% on a year-over-year basis. As a group, equities analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Morgan Stanley set a $65.00 price objective on shares of Vita Coco in a research note on Thursday, April 30th. Jefferies Financial Group boosted their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of Vita Coco in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $68.00, for a total value of $3,400,000.00. Following the transaction, the chairman 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Burth sold 60,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $58.65, for a total transaction of $3,519,000.00. Following the completion of the sale, the chief operating officer directly owned 57,910 shares of the company’s stock, valued at $3,396,421.50. This represents a 50.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 488,361 shares of company stock worth $28,603,572 in the last quarter. Corporate insiders own 34.20% of the company’s stock.

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.