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Numerai GP LLC purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 21,871 shares of the company’s stock, valued at approximately $429,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Calamos Advisors LLC purchased a new position in shares of Vita Coco during the first quarter valued at about $1,580,000. RK Capital Management LLC boosted its stake in Vita Coco by 20.1% during the first quarter. RK Capital Management LLC now owns 806,500 shares of the company’s stock worth $15,824,000 after acquiring an additional 134,800 shares in the last quarter. Pier Capital LLC bought a new stake in Vita Coco during the first quarter worth about $4,385,000. Isthmus Partners LLC boosted its stake in Vita Coco by 1.6% during the first quarter. Isthmus Partners LLC now owns 159,113 shares of the company’s stock worth $3,122,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in Vita Coco during the fourth quarter worth about $330,000. Hedge funds and other institutional investors own 42.33% of the company’s stock.
Analysts Set New Price Targets
COCO has been the topic of several research reports. Stephens initiated coverage on shares of Vita Coco in a research note on Thursday, June 22nd. They set an “equal weight” rating and a $30.00 price objective on the stock. Bank of America downgraded shares of Vita Coco from a “buy” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $32.00 in a research note on Wednesday, August 2nd. Piper Sandler upped their target price on shares of Vita Coco from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Vita Coco from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.63.
Vita Coco Stock Down 0.0 %
COCO opened at $28.54 on Friday. The firm has a 50 day moving average price of $26.49 and a 200-day moving average price of $23.79. The Vita Coco Company, Inc. has a twelve month low of $7.39 and a twelve month high of $30.88. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 55.96 and a beta of 0.07.
Vita Coco (NASDAQ:COCO – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. Vita Coco had a net margin of 6.26% and a return on equity of 20.71%. The firm had revenue of $139.65 million during the quarter, compared to analysts’ expectations of $131.40 million. As a group, analysts expect that The Vita Coco Company, Inc. will post 0.79 earnings per share for the current year.
About Vita Coco
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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.
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