American Century Companies Inc. Increases Stake in Vita Coco Company, Inc. $COCO

American Century Companies Inc. lifted its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 648.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 647,257 shares of the company’s stock after buying an additional 560,729 shares during the quarter. American Century Companies Inc. owned approximately 1.14% of Vita Coco worth $27,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COCO. Vanguard Group Inc. increased its holdings in Vita Coco by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,912,074 shares of the company’s stock valued at $123,676,000 after acquiring an additional 97,233 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Vita Coco by 12.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after purchasing an additional 224,305 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Vita Coco during the 3rd quarter valued at about $62,815,000. Westfield Capital Management Co. LP purchased a new position in shares of Vita Coco during the third quarter valued at about $45,135,000. Finally, Geode Capital Management LLC grew its position in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock valued at $36,759,000 after purchasing an additional 28,448 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other Vita Coco news, Director Jane Cecil Morreau sold 15,000 shares of Vita Coco stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total transaction of $808,650.00. Following the completion of the transaction, the director directly owned 17,179 shares of the company’s stock, valued at $926,119.89. The trade was a 46.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total transaction of $210,288.00. Following the transaction, the director owned 608,266 shares in the company, valued at $32,797,702.72. This trade represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 72,800 shares of company stock worth $4,052,956. Company insiders own 34.20% of the company’s stock.

Vita Coco Trading Down 2.4%

Shares of NASDAQ:COCO opened at $51.72 on Monday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 1.63 and a beta of 0.36. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $59.88. The company has a 50-day moving average price of $54.65 and a 200 day moving average price of $47.83.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. As a group, equities analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of research analyst reports. Bank of America upgraded Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $54.00 in a research report on Monday, November 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Jefferies Financial Group increased their target price on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.88.

About Vita Coco

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.