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

Victory Capital Management Inc. cut its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 55.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 397,886 shares of the company’s stock after selling 497,830 shares during the period. Victory Capital Management Inc.’s holdings in Vita Coco were worth $14,686,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COCO. Barclays PLC lifted its stake in Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after acquiring an additional 46,385 shares during the last quarter. Woodson Capital Management LP bought a new stake in shares of Vita Coco in the 3rd quarter valued at about $19,224,000. Lord Abbett & CO. LLC lifted its stake in Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after purchasing an additional 80,128 shares during the last quarter. SG Americas Securities LLC grew its holdings in Vita Coco by 94.2% during the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company’s stock worth $875,000 after purchasing an additional 11,500 shares during the period. Finally, TT International Asset Management LTD increased its position in Vita Coco by 1,643.7% during the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after buying an additional 170,797 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COCO. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a research report on Monday, January 27th. Bank of America increased their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Vita Coco Stock Down 1.2 %

Shares of Vita Coco stock opened at $34.91 on Thursday. The firm’s 50-day moving average price is $36.19 and its two-hundred day moving average price is $33.22. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 12-month low of $23.00 and a 12-month high of $40.32.

Insider Buying and Selling

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $36.37, for a total transaction of $181,850.00. Following the completion of the sale, the chief executive officer now directly owns 337,152 shares in the company, valued at $12,262,218.24. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,322 shares of company stock worth $2,698,688. Corporate insiders own 34.20% of the company’s stock.

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.