Charles Schwab Investment Management Inc. Purchases 57,622 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Charles Schwab Investment Management Inc. boosted its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 21.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 324,041 shares of the company's stock after buying an additional 57,622 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.57% of Vita Coco worth $9,174,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COCO. Harbor Capital Advisors Inc. grew its position in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after buying an additional 200,940 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Vita Coco during the third quarter valued at approximately $3,990,000. American Century Companies Inc. raised its stake in shares of Vita Coco by 42.2% in the second quarter. American Century Companies Inc. now owns 80,129 shares of the company's stock valued at $2,232,000 after purchasing an additional 23,761 shares in the last quarter. Victory Capital Management Inc. lifted its position in Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. Finally, Pier Capital LLC boosted its stake in Vita Coco by 37.7% during the second quarter. Pier Capital LLC now owns 292,073 shares of the company's stock worth $8,134,000 after buying an additional 79,957 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Up 2.3 %

COCO traded up $0.83 during trading on Wednesday, hitting $37.18. The company's stock had a trading volume of 281,597 shares, compared to its average volume of 604,028. The firm's 50 day moving average price is $32.62 and its two-hundred day moving average price is $29.04. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.37 and a beta of 0.31. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $37.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company's revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, CMO Jane Prior sold 3,638 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.04, for a total value of $134,751.52. Following the transaction, the chief marketing officer now directly owns 130,751 shares of the company's stock, valued at approximately $4,843,017.04. This trade represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the completion of the transaction, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,951 shares of company stock worth $3,201,769. Insiders own 34.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Craig Hallum raised their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Bank of America boosted their price target on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and an average target price of $32.14.

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.