33,219 Vita Coco Company, Inc. $COCO Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. raised its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 2.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,240,321 shares of the company’s stock after purchasing an additional 33,219 shares during the quarter. Congress Asset Management Co.’s holdings in Vita Coco were worth $71,015,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COCO. Engineers Gate Manager LP bought a new position in shares of Vita Coco in the second quarter valued at approximately $298,000. Integrated Wealth Concepts LLC acquired a new position in shares of Vita Coco in the 2nd quarter worth approximately $285,000. IFP Advisors Inc grew its position in Vita Coco by 210.4% during the 2nd quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $46,000 after acquiring an additional 467 shares during the last quarter. Nykredit A S acquired a new stake in Vita Coco during the 2nd quarter valued at $123,000. Finally, Amundi acquired a new stake in Vita Coco during the 2nd quarter valued at $686,000. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COCO has been the subject of several research analyst reports. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Piper Sandler decreased their target price on Vita Coco from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Wells Fargo & Company lowered their target price on Vita Coco from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group set a $90.00 price target on Vita Coco and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Oppenheimer started coverage on shares of Vita Coco in a research report on Thursday, October 1st. They set an “outperform” rating and a $70.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.50.

Vita Coco Stock Down 1.5%

COCO stock traded down $0.84 during trading on Tuesday, hitting $54.48. The company had a trading volume of 1,028,405 shares, compared to its average volume of 1,213,716. The firm has a 50-day moving average price of $60.21 and a 200-day moving average price of $64.30. Vita Coco Company, Inc. has a 12 month low of $38.07 and a 12 month high of $85.83. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.55 and a beta of 0.76.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $216.15 million for the quarter, compared to the consensus estimate of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities analysts expect that Vita Coco Company, Inc. will post 1.95 EPS for the current year.

About Vita Coco

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water and related coconut-based beverages, including flavored and nutrient-enhanced varieties. The company also markets other functional and hydration-focused products under brands such as PWR LIFT and Ever & Ever.

Founded in 2004, Vita Coco helped expand the mainstream market for packaged coconut water. The company sells its products through grocery stores, mass retailers, convenience stores, clubs, e-commerce platforms, and food-service channels.