Bayesian Capital Management LP Raises Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Bayesian Capital Management LP lifted its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 81.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,056 shares of the company’s stock after purchasing an additional 8,125 shares during the period. Bayesian Capital Management LP’s holdings in Vita Coco were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Moran Wealth Management LLC boosted its position in Vita Coco by 7.0% during the fourth quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after acquiring an additional 619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Vita Coco by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after acquiring an additional 638 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after acquiring an additional 919 shares during the last quarter. Versor Investments LP boosted its position in Vita Coco by 9.9% during the fourth quarter. Versor Investments LP now owns 14,086 shares of the company’s stock worth $361,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Vita Coco during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America lifted their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Jefferies Financial Group decreased their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a report on Thursday, May 23rd. Finally, Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $28.00 in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 2,845 shares of Vita Coco stock in a transaction on Friday, June 14th. The shares were sold at an average price of $30.07, for a total transaction of $85,549.15. Following the sale, the chief operating officer now owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John Zupo sold 5,017 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total value of $138,569.54. Following the completion of the sale, the director now owns 8,247 shares of the company’s stock, valued at approximately $227,782.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Burth sold 2,845 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $30.07, for a total transaction of $85,549.15. Following the completion of the sale, the chief operating officer now directly owns 134,004 shares of the company’s stock, valued at approximately $4,029,500.28. The disclosure for this sale can be found here. Insiders have sold 31,874 shares of company stock valued at $945,365 in the last quarter. Company insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 6.3 %

Shares of COCO stock traded up $1.54 during mid-day trading on Wednesday, reaching $26.17. The company’s stock had a trading volume of 568,500 shares, compared to its average volume of 673,681. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $33.29. The firm has a market capitalization of $1.48 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.45 and a beta of 0.23. The company’s 50 day simple moving average is $27.60 and its 200-day simple moving average is $25.20.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The firm had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that The Vita Coco Company, Inc. will post 1.01 EPS 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.