SG Americas Securities LLC Invests $346,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

SG Americas Securities LLC purchased a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,207 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of the business. nVerses Capital LLC lifted 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 in the last quarter. CWM LLC lifted its stake in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 worth $89,000 after acquiring an additional 3,210 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after acquiring an additional 919 shares in the last quarter. Finally, Comerica Bank lifted its stake in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after acquiring an additional 3,675 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on 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 increased their target price on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group reduced their price target 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. Finally, Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.17.

Vita Coco Price Performance

COCO stock opened at $28.84 on Friday. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $31.42. The firm has a market capitalization of $1.63 billion, a P/E ratio of 31.35, a P/E/G ratio of 2.24 and a beta of 0.23. The business’s 50-day moving average is $27.08 and its two-hundred day moving average is $26.78.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same quarter last year, the company earned $0.26 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts expect that The Vita Coco Company, Inc. will post 1.05 EPS for the current year.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 2,244 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the sale, the chief operating officer now owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 34.20% of the company’s stock.

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.