Arizona State Retirement System Has $309,000 Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Arizona State Retirement System raised its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,107 shares of the company’s stock after purchasing an additional 960 shares during the period. Arizona State Retirement System’s holdings in Vita Coco were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COCO. Robeco Institutional Asset Management B.V. acquired a new position in shares of Vita Coco during the fourth quarter worth $60,000. New York State Teachers Retirement System acquired a new position in shares of Vita Coco during the first quarter worth $63,000. nVerses Capital LLC increased its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after buying an additional 1,900 shares in the last quarter. CWM LLC increased its holdings in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

COCO stock opened at $27.74 on Wednesday. The stock has a market capitalization of $1.57 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.30 and a beta of 0.22. The company’s 50-day moving average is $25.96 and its 200-day moving average is $26.19. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The company had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same quarter in the prior year, the business posted $0.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, analysts anticipate that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Es Charles Van sold 4,372 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the transaction, the insider now directly owns 97,668 shares of the company’s stock, valued at approximately $2,930,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COCO. Jefferies Financial Group reduced their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America boosted their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Piper Sandler cut shares of Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Finally, Stephens reissued an “overweight” rating and issued a $31.00 price objective on shares of Vita Coco in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Vita Coco Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.