Victory Capital Management Inc. Grows Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Victory Capital Management Inc. raised its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 899.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,823 shares of the company's stock after acquiring an additional 250,024 shares during the quarter. Victory Capital Management Inc. owned about 0.49% of Vita Coco worth $7,126,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Headinvest LLC bought a new stake in Vita Coco in the 3rd quarter valued at about $29,000. Federated Hermes Inc. grew its position in Vita Coco by 1,237.2% during the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company's stock worth $167,000 after buying an additional 5,926 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vita Coco by 95.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company's stock worth $202,000 after acquiring an additional 3,776 shares during the period. D.A. Davidson & CO. bought a new position in Vita Coco during the 3rd quarter worth $227,000. Finally, Arizona State Retirement System acquired a new position in Vita Coco in the 3rd quarter valued at $230,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded down $1.18 during midday trading on Wednesday, hitting $26.26. 716,096 shares of the stock were exchanged, compared to its average volume of 702,328. The business's 50-day moving average price is $25.02 and its 200 day moving average price is $25.11. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $33.29. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 1.77 and a beta of 0.18.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $112.00 million during the quarter, compared to analysts' expectations of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The company's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. As a group, sell-side analysts expect that The Vita Coco Company, Inc. will post 1.02 EPS for the current year.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 6,915 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total transaction of $172,875.00. Following the completion of the sale, the director now owns 985,729 shares of the company's stock, valued at approximately $24,643,225. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vita Coco news, Director Ira Liran sold 6,915 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,875.00. Following the completion of the sale, the director now directly owns 985,729 shares in the company, valued at approximately $24,643,225. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 6,900 shares of Vita Coco stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,500.00. Following the completion of the transaction, the chairman now directly owns 633,448 shares of the company's stock, valued at $15,836,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,353 shares of company stock valued at $1,309,536. 34.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Vita Coco from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. Stephens raised shares of Vita Coco from an "equal weight" rating to an "overweight" rating and set a $31.00 price objective on the stock in a research note on Thursday, February 29th. TheStreet downgraded Vita Coco from a "b-" rating to a "c+" rating in a report on Monday, January 22nd. Piper Sandler boosted their price target on Vita Coco from $24.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Finally, William Blair lowered Vita Coco from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. Three investment 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 an average rating of "Moderate Buy" and a consensus target price of $29.67.

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.