AQR Capital Management LLC Buys 4,234 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

AQR Capital Management LLC lifted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,475 shares of the company’s stock after buying an additional 4,234 shares during the quarter. AQR Capital Management LLC owned about 0.15% of Vita Coco worth $2,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. nVerses Capital LLC raised its stake in Vita Coco by 271.4% during the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after acquiring an additional 1,900 shares during the period. CWM LLC raised its position in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after buying an additional 3,675 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America boosted their price target on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Wells Fargo & Company lifted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $30.17.

Vita Coco Price Performance

Shares of COCO opened at $28.02 on Wednesday. The business’s 50 day simple moving average is $26.64 and its 200-day simple moving average is $26.55. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.53 and a beta of 0.23.

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 firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $144.08 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts expect that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current year.

Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 34.20% of the stock is currently owned by insiders.

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.