Kings Path Partners LLC Grows Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

by · The Markets Daily

Kings Path Partners LLC increased its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) by 72.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,920 shares of the company’s stock after acquiring an additional 6,700 shares during the quarter. Kings Path Partners LLC’s holdings in Vita Coco were worth $451,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of COCO. nVerses Capital LLC lifted its position in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after buying an additional 1,900 shares during the last quarter. CWM LLC lifted its position in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Vita Coco by 1,289.2% during the fourth 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 during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Vita Coco by 32.3% during the first 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 during the last quarter. Finally, Comerica Bank lifted its position in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COCO has been the subject of several analyst reports. Bank of America increased their price target 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. Wells Fargo & Company increased 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. Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Finally, Jefferies Financial Group decreased 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 report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average target price of $30.17.

Get Our Latest Stock Report on COCO

Vita Coco Price Performance

Shares of Vita Coco stock opened at $28.25 on Friday. 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 cap of $1.60 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23. The firm has a fifty day moving average price of $26.74 and a 200 day moving average price of $26.62.

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

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 2,244 shares of the 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 sale, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at approximately $3,739,396.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Profile

(Free Report)

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.

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