Two Sigma Securities LLC Invests $1.06 Million in Vita Coco Company, Inc. $COCO

Two Sigma Securities LLC bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the second quarter, HoldingsChannel.com reports. The firm bought 16,043 shares of the company’s stock, valued at approximately $1,061,000.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Vita Coco by 73.9% in the 1st quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock valued at $12,139,000 after buying an additional 107,684 shares during the period. Wasatch Advisors LP increased its stake in shares of Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after buying an additional 1,637,437 shares during the period. Vanguard Group Inc. raised its holdings in Vita Coco by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after acquiring an additional 237,510 shares in the last quarter. BlackRock Inc. acquired a new stake in Vita Coco in the second quarter valued at approximately $463,654,000. Finally, King Luther Capital Management Corp lifted its stake in Vita Coco by 35.6% in the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock worth $7,262,000 after acquiring an additional 35,937 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

In other news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of Vita Coco stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the completion of the transaction, the director directly owned 476,421 shares in the company, valued at $37,703,957.94. The trade was a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 343,900 shares of company stock worth $27,403,488. Insiders own 12.90% of the company’s stock.

Vita Coco Price Performance

Shares of COCO opened at $58.72 on Tuesday. Vita Coco Company, Inc. has a 1-year low of $34.85 and a 1-year high of $85.83. The stock has a market cap of $3.37 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.77. The firm has a fifty day moving average price of $68.24 and a 200 day moving average price of $64.22.

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

Wall Street Analysts Forecast Growth

COCO has been the subject of several analyst reports. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Evercore lifted their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler reiterated an “overweight” rating on shares of Vita Coco in a research note on Monday, August 24th. Morgan Stanley increased their target price on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Finally, Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.71.

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.