Victory Capital Management Inc. Purchases 247,339 Shares of Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. increased its holdings in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 62.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 645,225 shares of the company's stock after buying an additional 247,339 shares during the quarter. Victory Capital Management Inc. owned about 1.13% of Vita Coco worth $19,776,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COCO. Coppell Advisory Solutions LLC increased its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after buying an additional 613 shares in the last quarter. CWM LLC boosted its position in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares during the last quarter. IHT Wealth Management LLC purchased a new position in Vita Coco in the fourth quarter worth about $216,000. Finally, Goldstone Financial Group LLC purchased a new position in Vita Coco in the first quarter worth about $231,000. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Stock Up 0.4%

COCO stock traded up $0.15 during mid-day trading on Friday, hitting $37.92. The company had a trading volume of 502,874 shares, compared to its average volume of 662,747. The company has a 50-day moving average price of $36.25 and a 200 day moving average price of $34.94. Vita Coco Company, Inc. has a 12-month low of $23.56 and a 12-month high of $40.32. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 37.54, a P/E/G ratio of 2.03 and a beta of 0.37.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, beating 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 analyst estimates of $125.64 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm's revenue was up 17.2% on a year-over-year basis. As a group, analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Ratings Changes

COCO has been the topic of several research reports. Wells Fargo & Company raised their target price on Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a "buy" rating in a research report on Wednesday, April 30th. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Evercore ISI lifted their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Insider Activity at Vita Coco

In other Vita Coco news, insider Es Charles Van sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $38.02, for a total transaction of $380,200.00. Following the sale, the insider directly owned 94,127 shares of the company's stock, valued at $3,578,708.54. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Jane Prior sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total value of $370,700.00. Following the completion of the sale, the chief marketing officer directly owned 134,188 shares of the company's stock, valued at $4,974,349.16. The trade was a 6.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,846,562 shares of company stock valued at $131,933,805 over the last quarter. 32.30% of the stock is currently owned by insiders.

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.