Vita Coco Company, Inc. $COCO Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital reduced its stake by 27.1% in Q3, selling 108,289 shares and now owns 291,523 shares of Vita Coco (0.51%) valued at about $12.38 million.
• Insiders have been net sellers — 122,800 shares sold in the past 90 days (≈$6.7M), including Director Ira Liran's 30,000-share sale — though insiders still hold 32.30% of the stock.
• Vita Coco missed EPS estimates ($0.09 vs. $0.13) while beating revenue estimates, and the stock trades near its 52-week high with a $3.29B market cap and a consensus "Moderate Buy" price target of $54.88.

Victory Capital Management Inc. reduced its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,523 shares of the company's stock after selling 108,289 shares during the period. Victory Capital Management Inc. owned 0.51% of Vita Coco worth $12,381,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock worth $720,000 after purchasing an additional 1,174 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Vita Coco by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 33,243 shares of the company's stock worth $1,200,000 after buying an additional 1,872 shares during the period. Geode Capital Management LLC boosted its holdings in Vita Coco by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company's stock valued at $36,759,000 after acquiring an additional 28,448 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Vita Coco during the second quarter valued at about $372,000. Finally, Intech Investment Management LLC increased its stake in Vita Coco by 9.2% during the second quarter. Intech Investment Management LLC now owns 22,756 shares of the company's stock worth $821,000 after acquiring an additional 1,922 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COCO has been the subject of a number of research reports. Zacks Research cut Vita Coco from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. Morgan Stanley lifted their price target on shares of Vita Coco from $49.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Bank of America raised shares of Vita Coco from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Evercore reissued an "outperform" rating and issued a $58.00 target price on shares of Vita Coco in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Vita Coco in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.88.

Vita Coco Stock Up 5.1%

NASDAQ COCO opened at $57.69 on Thursday. The business has a 50 day moving average price of $54.74 and a two-hundred day moving average price of $48.14. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $59.88. The stock has a market cap of $3.29 billion, a PE ratio of 48.89, a P/E/G ratio of 1.73 and a beta of 0.37.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The firm had revenue of $127.79 million for the quarter, compared to analyst estimates of $117.80 million. During the same period in the previous year, the business posted $0.06 earnings per share. Vita Coco's revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $56.65, for a total value of $1,699,500.00. Following the transaction, the director directly owned 572,579 shares of the company's stock, valued at $32,436,600.35. This represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total value of $210,288.00. Following the transaction, the director owned 608,266 shares of the company's stock, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 122,800 shares of company stock worth $6,698,956. 32.30% of the stock is owned by insiders.

Vita Coco Profile

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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