Vita Coco Company, Inc. $COCO Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Vita Coco Company, Inc. by 15.7%, selling 16,494 shares and owning approximately 0.16% of the company worth $2.7 million.
• Vita Coco recently reported earnings of $0.38 per share, exceeding analysts' expectations, with a revenue of $168.76 million for the quarter, a 17.1% year-over-year increase.
• Analysts have mixed ratings on Vita Coco, with Wells Fargo raising their price target to $45.00 while other firms have maintained or lowered their ratings, reflecting ongoing divergent views on the stock's performance.

American Century Companies Inc. trimmed its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,568 shares of the company's stock after selling 16,494 shares during the quarter. American Century Companies Inc. owned about 0.16% of Vita Coco worth $2,715,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CWM LLC raised its stake in shares of Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Vita Coco in the first quarter worth about $111,000. US Bancorp DE raised its stake in shares of Vita Coco by 7.5% in the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after purchasing an additional 364 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Vita Coco by 16.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after purchasing an additional 758 shares during the last quarter. Finally, Goldstone Financial Group LLC purchased a new position in shares of Vita Coco in the first quarter worth about $231,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Stock Up 2.6%

Shares of Vita Coco stock traded up $0.94 on Thursday, reaching $37.59. The company's stock had a trading volume of 260,042 shares, compared to its average volume of 727,109. The company has a market capitalization of $2.14 billion, a P/E ratio of 35.04, a PEG ratio of 1.89 and a beta of 0.36. Vita Coco Company, Inc. has a 52-week low of $24.37 and a 52-week high of $40.32. The stock has a 50-day moving average price of $35.92 and a 200-day moving average price of $34.48.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COCO. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a report on Wednesday, August 20th. Wells Fargo & Company raised their target price on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Morgan Stanley raised their target price on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Insider Transactions at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $37.65, for a total value of $146,835.00. Following the sale, the director directly owned 631,666 shares of the company's stock, valued at $23,782,224.90. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the sale, the insider directly owned 94,127 shares in the company, valued at $3,578,708.54. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,952 shares of company stock valued at $1,500,913. Insiders own 34.20% of the company's stock.

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.