Moran Wealth Management LLC Has $3.46 Million Stock Holdings in Vita Coco Company, Inc. $COCO

Moran Wealth Management LLC increased its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 219.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,167 shares of the company’s stock after buying an additional 49,546 shares during the quarter. Moran Wealth Management LLC’s holdings in Vita Coco were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its holdings in shares of Vita Coco by 80.3% in the 1st 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 period. Vanguard Group Inc. boosted its holdings in shares of Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after purchasing an additional 237,510 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Vita Coco by 22.1% during the fourth quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after purchasing an additional 439,958 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Vita Coco during the third quarter valued at approximately $62,815,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco during the fourth quarter valued at approximately $73,242,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the sale, the director owned 580,296 shares in the company, valued at $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Vita Coco stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the sale, the chief operating officer owned 57,910 shares in the company, valued at approximately $4,343,250. This trade represents a 34.13% 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 a total of 705,306 shares of company stock worth $49,154,273 over the last quarter. 34.20% of the stock is owned by company insiders.

Vita Coco Price Performance

Shares of COCO opened at $66.16 on Monday. The company has a market capitalization of $3.78 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The company’s fifty day moving average price is $73.61 and its 200 day moving average price is $60.48.

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

Wall Street Analyst Weigh In

COCO has been the topic of a number of research reports. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Jefferies Financial Group lifted their price objective on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

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.