Canada Pension Plan Investment Board Acquires New Shares in The Vita Coco Company, Inc. (NASDAQ:COCO)

Canada Pension Plan Investment Board bought a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 76,500 shares of the company’s stock, valued at approximately $2,131,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock valued at $21,623,000 after buying an additional 156,033 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Vita Coco by 8.0% in 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. BOKF NA bought a new position in shares of Vita Coco in the 2nd quarter worth $254,000. American Century Companies Inc. lifted its stake in shares of Vita Coco by 42.2% during the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after purchasing an additional 23,761 shares during the last quarter. Finally, Pier Capital LLC boosted its position in Vita Coco by 37.7% during the second quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock valued at $8,134,000 after purchasing an additional 79,957 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COCO shares. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Jefferies Financial Group reduced their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Bank of America raised their target price on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company upped their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.17.

Insider Transactions at Vita Coco

In related news, insider Es Charles Van sold 4,372 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 in the company, valued at $2,930,040. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 34.20% of the company’s stock.

Vita Coco Trading Up 1.0 %

COCO opened at $29.13 on Friday. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $31.42. The firm has a 50 day moving average of $26.09 and a two-hundred day moving average of $26.35. The firm has a market capitalization of $1.65 billion, a PE ratio of 31.66, a P/E/G ratio of 2.53 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, analysts predict that The Vita Coco Company, Inc. will post 0.95 EPS for the current fiscal year.

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.