Victory Capital Management Inc. Acquires 461,748 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. increased its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 106.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 895,716 shares of the company's stock after buying an additional 461,748 shares during the period. Victory Capital Management Inc. owned 1.58% of Vita Coco worth $25,358,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after acquiring an additional 200,940 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in Vita Coco during the 3rd quarter worth about $1,010,000. US Bancorp DE boosted its stake in Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company's stock worth $424,000 after purchasing an additional 1,178 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Vita Coco by 18.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company's stock worth $1,310,000 after buying an additional 7,173 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in Vita Coco in the 3rd quarter worth approximately $3,990,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on COCO shares. Craig Hallum upped their price target 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. Jefferies Financial Group decreased their target price on Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Insider Buying and Selling at Vita Coco

In related news, CEO Martin F. Roper sold 5,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $35.85, for a total transaction of $179,250.00. Following the completion of the sale, the chief executive officer now directly owns 452,452 shares in the company, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 27,176 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the sale, the director now owns 883,729 shares of the company's stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,425 shares of company stock worth $1,494,523. 34.20% of the stock is owned by insiders.

Vita Coco Stock Up 2.6 %

Shares of Vita Coco stock traded up $0.88 during trading on Monday, hitting $34.90. 100,262 shares of the stock traded hands, compared to its average volume of 619,025. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.22 and a beta of 0.22. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $36.41. The firm's fifty day moving average is $29.90 and its 200-day moving average is $27.91.

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

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.