Victory Capital Management Inc. Has $25.36 Million Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. raised its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 106.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 895,716 shares of the company’s stock after acquiring an additional 461,748 shares during the period. Victory Capital Management Inc. owned approximately 1.58% of Vita Coco worth $25,358,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Champlain Investment Partners LLC bought a new stake in shares of Vita Coco in the first quarter valued at about $18,210,000. Driehaus Capital Management LLC bought a new stake in shares of Vita Coco in the second quarter valued at approximately $9,859,000. Vanguard Group Inc. boosted its stake in shares of Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares during the period. 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. Finally, Summit Creek Advisors LLC increased its stake in Vita Coco by 123.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company’s stock worth $9,487,000 after acquiring an additional 188,060 shares during the period. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 0.5 %

NASDAQ:COCO opened at $34.02 on Monday. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $36.41. The stock’s 50-day simple moving average is $29.90 and its 200 day simple moving average is $27.89. The firm has a market capitalization of $1.93 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22.

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have recently issued reports on COCO. Jefferies Financial Group reduced their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Craig Hallum increased their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.