Victory Capital Management Inc. Has $12.09 Million Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. increased its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 1,310.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 433,968 shares of the company’s stock after buying an additional 403,192 shares during the quarter. Victory Capital Management Inc.’s holdings in Vita Coco were worth $12,086,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in COCO. Robeco Institutional Asset Management B.V. bought a new position in shares of Vita Coco in the fourth quarter valued at about $60,000. New York State Teachers Retirement System bought a new position in Vita Coco in the 1st quarter valued at about $63,000. nVerses Capital LLC raised its holdings in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares during the period. CWM LLC grew its position in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 6,836 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $205,353.44. Following the sale, the chief operating officer now owns 127,168 shares in the company, valued at approximately $3,820,126.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Es Charles Van sold 4,372 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total value of $131,160.00. Following the sale, the insider now owns 97,668 shares of the company’s stock, valued at $2,930,040. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jonathan Burth sold 6,836 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $205,353.44. Following the transaction, the chief operating officer now directly owns 127,168 shares of the company’s stock, valued at $3,820,126.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,272 shares of company stock worth $548,701. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 2.0 %

NASDAQ:COCO opened at $27.40 on Friday. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $32.12. The stock’s 50-day simple moving average is $25.99 and its 200 day simple moving average is $26.16. The firm has a market capitalization of $1.56 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, analysts anticipate that The Vita Coco Company, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COCO. Jefferies Financial Group reduced their target price on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Stephens restated an “overweight” rating and set a $31.00 target price on shares of Vita Coco in a research report on Thursday, May 23rd. Wells Fargo & Company lifted their price target on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $28.00 in a research report on Friday, July 12th. Finally, Bank of America lifted their price objective on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Vita Coco 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.