Victory Capital Management Inc. Sells 497,830 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. lessened its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 55.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,886 shares of the company's stock after selling 497,830 shares during the period. Victory Capital Management Inc. owned 0.70% of Vita Coco worth $14,686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COCO. Quest Partners LLC increased its stake in Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after acquiring an additional 3,473 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Vita Coco during the 3rd quarter worth $1,145,000. Moran Wealth Management LLC increased its stake in Vita Coco by 43.5% during the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company's stock worth $515,000 after acquiring an additional 5,517 shares during the period. Intech Investment Management LLC bought a new position in Vita Coco during the 3rd quarter worth $256,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company's stock worth $9,174,000 after acquiring an additional 57,622 shares during the period. Institutional investors own 88.49% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company reduced their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group raised their target price on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Stephens downgraded Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Vita Coco has an average rating of "Moderate Buy" and a consensus price target of $35.14.

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Insider Activity at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 700 shares of Vita Coco stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.25, for a total transaction of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,322 shares of company stock valued at $2,698,688 in the last 90 days. 34.20% of the stock is owned by corporate insiders.

Vita Coco Price Performance

Shares of NASDAQ COCO traded up $0.14 during mid-day trading on Friday, hitting $34.68. 383,037 shares of the stock traded hands, compared to its average volume of 550,967. The Vita Coco Company, Inc. has a twelve month low of $23.00 and a twelve month high of $40.32. The company has a market cap of $1.98 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The firm has a 50 day simple moving average of $36.19 and a two-hundred day simple moving average of $33.35.

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, 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.