Marshall Wace LLP Purchases New Shares in The Vita Coco Company, Inc. (NASDAQ:COCO)

Marshall Wace LLP purchased a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,734 shares of the company’s stock, valued at approximately $661,000.

Several other hedge funds and other institutional investors have also bought and sold shares of COCO. Syon Capital LLC bought a new position in shares of Vita Coco during the fourth quarter worth approximately $113,931,000. Vanguard Group Inc. grew its position in Vita Coco by 10.8% during the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after buying an additional 230,991 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Vita Coco by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after acquiring an additional 156,033 shares during the period. William Blair Investment Management LLC lifted its position in shares of Vita Coco by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock valued at $21,203,000 after acquiring an additional 56,416 shares during the period. Finally, Champlain Investment Partners LLC bought a new stake in shares of Vita Coco during the 1st quarter valued at $18,210,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 34.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Vita Coco Stock Performance

NASDAQ COCO opened at $28.02 on Wednesday. The firm’s fifty day moving average price is $26.64 and its two-hundred day moving average price is $26.55. The stock has a market cap of $1.59 billion, a PE ratio of 30.46, a PEG ratio of 2.53 and a beta of 0.23. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $31.42.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data 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. The business had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. Vita Coco’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts predict that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current fiscal year.

Vita Coco Company 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.