Moody Aldrich Partners LLC Boosts Stock Position in Vita Coco Company, Inc. $COCO

Moody Aldrich Partners LLC lifted its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,100 shares of the company’s stock after buying an additional 9,577 shares during the period. Moody Aldrich Partners LLC owned about 0.19% of Vita Coco worth $4,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COCO. Mather Group LLC. bought a new stake in Vita Coco in the third quarter worth about $54,000. Harbor Capital Advisors Inc. purchased a new position in shares of Vita Coco in the 3rd quarter worth approximately $821,000. Squarepoint Ops LLC raised its position in shares of Vita Coco by 47.9% in the 2nd quarter. Squarepoint Ops LLC now owns 18,884 shares of the company’s stock valued at $682,000 after purchasing an additional 6,120 shares during the last quarter. Ranger Investment Management L.P. raised its stake in shares of Vita Coco by 7.3% in the second quarter. Ranger Investment Management L.P. now owns 225,175 shares of the company’s stock worth $8,129,000 after purchasing an additional 15,240 shares during the last quarter. Finally, Cim LLC boosted its stake in shares of Vita Coco by 3.8% in the second quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after buying an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Down 0.8%

COCO stock opened at $53.01 on Thursday. The stock has a 50-day moving average price of $48.89 and a two-hundred day moving average price of $41.56. The company has a market cap of $3.02 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.37. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $55.29.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. During the same period in the previous year, the company posted $0.32 earnings per share. Vita Coco’s revenue was up 37.2% compared to the same quarter last year. Equities analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COCO has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Evercore ISI lifted their price objective on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Piper Sandler upped their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and boosted their price target for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Finally, Jefferies Financial Group raised their price target on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.88.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $44.00, for a total transaction of $224,488.00. Following the transaction, the chairman directly owned 1,479,049 shares of the company’s stock, valued at approximately $65,078,156. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Es Charles Van sold 20,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider directly owned 84,328 shares of the company’s stock, valued at approximately $4,216,400. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 397,047 shares of company stock valued at $18,345,260. 32.30% of the stock is currently owned by corporate 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.