AMI Asset Management Corp Sells 29,541 Shares of Vita Coco Company, Inc. $COCO

AMI Asset Management Corp decreased its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 46.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,141 shares of the company's stock after selling 29,541 shares during the period. AMI Asset Management Corp owned approximately 0.06% of Vita Coco worth $1,232,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. LVW Advisors LLC boosted its stake in shares of Vita Coco by 14.9% during the 2nd quarter. LVW Advisors LLC now owns 8,611 shares of the company's stock valued at $311,000 after purchasing an additional 1,116 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Vita Coco during the 2nd quarter valued at about $245,000. TT International Asset Management LTD boosted its stake in shares of Vita Coco by 21.4% during the 2nd quarter. TT International Asset Management LTD now owns 120,174 shares of the company's stock valued at $4,338,000 after purchasing an additional 21,148 shares in the last quarter. Goldstone Financial Group LLC boosted its stake in shares of Vita Coco by 51.2% during the 2nd quarter. Goldstone Financial Group LLC now owns 11,411 shares of the company's stock valued at $429,000 after purchasing an additional 3,862 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Vita Coco by 3,376.9% during the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after purchasing an additional 570,087 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $42.41 on Thursday. The stock has a market capitalization of $2.41 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. Vita Coco Company, Inc. has a 52-week low of $25.79 and a 52-week high of $43.28. The company has a 50-day simple moving average of $36.88 and a two-hundred day simple moving average of $35.12.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its 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 business had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 16,827 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.55, for a total transaction of $715,988.85. Following the completion of the transaction, the chief operating officer directly owned 76,127 shares of the company's stock, valued at $3,239,203.85. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Liran sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the transaction, the director directly owned 692,579 shares of the company's stock, valued at $29,088,318. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,425,906 shares of company stock valued at $139,546,526. 32.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COCO has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a research note on Wednesday, August 20th. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Needham & Company LLC initiated coverage on shares of Vita Coco in a research note on Wednesday, September 24th. They set a "hold" rating on the stock. Finally, Morgan Stanley boosted their price objective on shares of Vita Coco from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

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.

Want to see what other hedge funds are holding COCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vita Coco Company, Inc. (NASDAQ:COCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.