Westfield Capital Management Co. LP Makes New $45.14 Million Investment in Vita Coco Company, Inc. $COCO

Westfield Capital Management Co. LP purchased a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, HoldingsChannel reports. The firm purchased 1,062,761 shares of the company’s stock, valued at approximately $45,135,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COCO. New York State Common Retirement Fund increased its holdings in Vita Coco by 10.3% during the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock valued at $21,703,000 after acquiring an additional 47,632 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Vita Coco during the 3rd quarter worth approximately $2,230,000. Harbor Capital Advisors Inc. purchased a new position in shares of Vita Coco during the 3rd quarter worth approximately $821,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Vita Coco during the 3rd quarter worth approximately $62,815,000. Finally, Capital Fund Management S.A. purchased a new stake in Vita Coco in the 2nd quarter valued at approximately $1,049,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity

In other news, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.91, for a total transaction of $808,650.00. Following the completion of the sale, the director directly owned 17,179 shares in the company, valued at $926,119.89. This represents a 46.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the transaction, the director directly owned 608,266 shares in the company, valued at $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 72,800 shares of company stock valued at $4,052,956 in the last ninety days. Company insiders own 32.30% of the company’s stock.

Vita Coco Price Performance

COCO opened at $57.41 on Friday. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $59.88. The business has a 50-day moving average of $54.52 and a two-hundred day moving average of $46.76. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 48.65, a price-to-earnings-growth ratio of 1.73 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same period in the prior year, the business posted $0.06 earnings per share. Vita Coco’s revenue was up .4% on a year-over-year basis. Equities research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COCO shares. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Wells Fargo & Company boosted their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Evercore restated an “outperform” rating and issued a $58.00 target price on shares of Vita Coco in a report on Thursday, February 19th. Morgan Stanley lifted their price target on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.88.

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.