Aberdeen Group plc Lowers Stock Holdings in Vita Coco Company, Inc. $COCO

Key Points

• Aberdeen Group plc has decreased its stake in Vita Coco Company, Inc. by 18.6%, owning approximately 1.04% of the company after selling 134,923 shares in the 2nd quarter.
• Vita Coco's stock price has seen fluctuations, opening at $39.81 recently, with a 12-month range of $25.79 to $43.65 and an average target price of $40.63 from analysts.
• Insider activity includes CEO Martin Roper selling 1,835 shares at an average price of $42.74, marking a 0.64% decrease in his ownership, with total insider sales of 3,463,800 shares occurring in the last three months.

Aberdeen Group plc reduced its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 18.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 590,999 shares of the company's stock after selling 134,923 shares during the period. Aberdeen Group plc owned about 1.04% of Vita Coco worth $21,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 3,258.2% in the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock valued at $859,000 after purchasing an additional 25,544 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Vita Coco by 6.3% in the 1st quarter. Rhumbline Advisers now owns 57,168 shares of the company's stock valued at $1,752,000 after purchasing an additional 3,393 shares during the last quarter. TT International Asset Management LTD acquired a new position in shares of Vita Coco in the 1st quarter valued at $3,035,000. Principal Financial Group Inc. boosted its holdings in shares of Vita Coco by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock valued at $1,343,000 after purchasing an additional 521 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Vita Coco by 6.2% in the 1st quarter. Bank of New York Mellon Corp now owns 133,572 shares of the company's stock valued at $4,094,000 after purchasing an additional 7,788 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COCO shares. Bank of America lifted their price target on shares of Vita Coco from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target on the stock in a report on Wednesday, August 20th. Zacks Research lowered shares of Vita Coco from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Needham & Company LLC assumed coverage on shares of Vita Coco in a report on Wednesday, September 24th. They set a "hold" rating on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $45.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, September 25th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Vita Coco has an average rating of "Hold" and a consensus target price of $40.63.

Insider Activity

In related news, CEO Martin Roper sold 1,835 shares of the business's stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total transaction of $78,427.90. Following the completion of the sale, the chief executive officer owned 287,062 shares of the company's stock, valued at $12,269,029.88. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 3,173 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $42.50, for a total transaction of $134,852.50. Following the sale, the chief operating officer directly owned 76,127 shares of the company's stock, valued at approximately $3,235,397.50. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,463,800 shares of company stock valued at $141,214,319 in the last three months. Insiders own 34.20% of the company's stock.

Vita Coco Price Performance

Vita Coco stock opened at $39.81 on Tuesday. Vita Coco Company, Inc. has a 12-month low of $25.79 and a 12-month high of $43.65. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 2.72 and a beta of 0.40. The firm's fifty day moving average price is $37.80 and its 200 day moving average price is $35.60.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. Analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.

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