Vita Coco Company, Inc. $COCO Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Increases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 137.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 40,200 shares of the company’s stock after purchasing an additional 23,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Vita Coco were worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Vita Coco in the second quarter worth $463,654,000. Congress Asset Management Co. boosted its holdings in shares of Vita Coco by 2.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,240,321 shares of the company’s stock worth $71,015,000 after buying an additional 33,219 shares during the period. Bank of America Corp DE acquired a new position in Vita Coco in the 2nd quarter valued at $56,722,000. Dimensional Fund Advisors LP grew its stake in Vita Coco by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,073,413 shares of the company’s stock valued at $51,422,000 after buying an additional 61,950 shares during the last quarter. Finally, Algert Global LLC grew its stake in Vita Coco by 35.3% in the 2nd quarter. Algert Global LLC now owns 296,102 shares of the company’s stock valued at $19,584,000 after buying an additional 77,191 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

NASDAQ COCO opened at $59.69 on Wednesday. The company’s fifty day moving average is $57.26 and its two-hundred day moving average is $61.66. Vita Coco Company, Inc. has a 52-week low of $39.69 and a 52-week high of $85.83. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 1.49 and a beta of 0.76.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $243.83 million during the quarter, compared to analyst estimates of $230.10 million. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, sell-side analysts expect that Vita Coco Company, Inc. will post 2.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on COCO shares. Weiss Ratings downgraded shares of Vita Coco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. William Blair restated a “market perform” rating on shares of Vita Coco in a report on Thursday, October 22nd. Morgan Stanley upped their price target on shares of Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Oppenheimer started coverage on Vita Coco in a research report on Thursday, October 1st. They issued an “outperform” rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on Vita Coco from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $74.12.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.