The Manufacturers Life Insurance Company Has $624,000 Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

The Manufacturers Life Insurance Company increased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 29.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,392 shares of the company’s stock after acquiring an additional 5,038 shares during the period. The Manufacturers Life Insurance Company’s holdings in Vita Coco were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COCO. Vanguard Group Inc. raised its stake in Vita Coco by 10.8% during the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock worth $58,032,000 after buying an additional 230,991 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after purchasing an additional 156,033 shares during the last quarter. William Blair Investment Management LLC raised its position in Vita Coco by 8.0% in the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock worth $21,203,000 after acquiring an additional 56,416 shares during the period. Champlain Investment Partners LLC bought a new stake in Vita Coco in the first quarter worth about $18,210,000. Finally, Victory Capital Management Inc. raised its position in shares of Vita Coco by 1,310.1% in the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock valued at $12,086,000 after purchasing an additional 403,192 shares during the period. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 2.1 %

Shares of NASDAQ COCO opened at $29.40 on Wednesday. The firm’s 50-day moving average price is $26.86 and its 200-day moving average price is $26.71. The company has a market cap of $1.67 billion, a PE ratio of 31.96, a PEG ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $31.42.

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 analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $144.08 million. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. As a group, equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Jonathan Burth sold 2,244 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares in the company, valued at approximately $3,739,396.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 34.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on COCO. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $28.00 in a report on Friday, July 12th. Jefferies Financial Group decreased their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Bank of America increased their price target on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.17.

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.