The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 42.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,129 shares of the company’s stock after acquiring an additional 23,761 shares during the period. American Century Companies Inc. owned approximately 0.14% of Vita Coco worth $2,232,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. CWM LLC increased its holdings in Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after purchasing an additional 919 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after buying an additional 960 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after buying an additional 1,900 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Vita Coco during the first quarter worth about $63,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Stock Performance

COCO stock opened at $29.49 on Friday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 32.05, a PEG ratio of 2.53 and a beta of 0.22. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $31.42. The company has a 50 day moving average price of $26.15 and a two-hundred day moving average price of $26.38.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Vita Coco had a net margin of 11.05% and a return on equity of 26.42%. The firm had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $144.08 million. During the same period in the previous year, the company earned $0.26 EPS. Vita Coco’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts forecast that The Vita Coco Company, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COCO has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America raised their price objective 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. Piper Sandler cut shares of Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Finally, Wells Fargo & Company raised their price objective on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Three research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.17.

Insider Activity

In other news, insider Es Charles Van sold 4,372 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total transaction of $131,160.00. Following the completion of the sale, the insider now directly owns 97,668 shares of the company’s stock, valued at approximately $2,930,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 34.20% of the company’s stock.

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.