PDT Partners LLC Buys New Shares in Vita Coco Company, Inc. $COCO

PDT Partners LLC bought a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 8,500 shares of the company’s stock, valued at approximately $562,000.

A number of other large investors have also bought and sold shares of COCO. Bank of New York Mellon Corp boosted its position in shares of Vita Coco by 73.9% during the 1st quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock worth $12,139,000 after purchasing an additional 107,684 shares in the last quarter. Wasatch Advisors LP increased its position in 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 buying an additional 1,637,437 shares in the last quarter. Vanguard Group Inc. increased its position in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares in the last quarter. King Luther Capital Management Corp raised its stake in Vita Coco by 35.6% during the 4th quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock worth $7,262,000 after buying an additional 35,937 shares during the period. Finally, Pier Capital LLC bought a new position in Vita Coco in the fourth quarter worth approximately $7,318,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on COCO shares. Wells Fargo & Company raised their price objective on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Evercore increased their target price on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Morgan Stanley lifted their price target on shares of Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.71.

Vita Coco Stock Performance

COCO stock opened at $61.63 on Friday. The business has a 50-day simple moving average of $69.16 and a two-hundred day simple moving average of $64.18. The company has a market capitalization of $3.54 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Vita Coco Company, Inc. has a 52-week low of $34.26 and a 52-week high of $85.83.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The firm had revenue of $216.15 million during the quarter, compared to the consensus estimate of $210.64 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Es Charles Van sold 8,045 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the sale, the insider owned 59,085 shares in the company, valued at approximately $4,434,329.25. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director directly owned 580,296 shares of the company’s stock, valued at $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 351,945 shares of company stock worth $28,007,266. 12.90% of the stock is owned by corporate insiders.

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.