GW&K Investment Management LLC Has $23.19 Million Stake in Vita Coco Company, Inc. (NASDAQ:COCO)

GW&K Investment Management LLC lifted its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 756,646 shares of the company's stock after acquiring an additional 105,401 shares during the quarter. GW&K Investment Management LLC owned about 1.33% of Vita Coco worth $23,191,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in COCO. Coppell Advisory Solutions LLC boosted its stake in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares in the last quarter. CWM LLC boosted its stake in shares of Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after acquiring an additional 367 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after acquiring an additional 347 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth about $216,000. Finally, Goldstone Financial Group LLC bought a new stake in shares of Vita Coco during the 1st quarter worth about $231,000. Institutional investors own 88.49% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total value of $741,400.00. Following the completion of the transaction, the chairman directly owned 1,643,049 shares of the company's stock, valued at approximately $60,907,826.43. This represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the transaction, the insider directly owned 7,097,161 shares of the company's stock, valued at approximately $243,077,764.25. The trade was a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,846,562 shares of company stock worth $131,933,805 in the last 90 days. 32.30% of the stock is owned by corporate insiders.

Vita Coco Stock Down 1.0%

Shares of COCO stock traded down $0.40 during mid-day trading on Thursday, reaching $37.83. The stock had a trading volume of 365,577 shares, compared to its average volume of 710,743. The firm's 50 day simple moving average is $36.14 and its 200 day simple moving average is $34.88. Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The firm has a market cap of $2.15 billion, a PE ratio of 37.46, a P/E/G ratio of 2.10 and a beta of 0.37.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same quarter last year, the company earned $0.24 EPS. The company's quarterly revenue was up 17.2% on a year-over-year basis. Sell-side analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on COCO shares. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Stephens restated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Evercore ISI increased their target price on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their target price on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. 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 has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Vita Coco Company 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.