Baird Financial Group Inc. Has $3.02 Million Stock Holdings in Vita Coco Company, Inc. $COCO

Key Points

• Baird Financial Group Inc. reduced its stake in Vita Coco Company, Inc. by 34.0%, selling 50,612 shares, and now owns approximately 0.17% of the company, valued at $3,016,000.
• Several institutional investors have increased their stakes in Vita Coco, with Driehaus Capital Management lifting its stake by 14.4% and State of Wyoming increasing by 238.9% during the 1st quarter.
• Vita Coco's stock price was reported at $38.54, reflecting a 17.1% increase in quarterly revenue year-over-year, and an anticipated 1.07 EPS for the current year.

Baird Financial Group Inc. cut its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,416 shares of the company's stock after selling 50,612 shares during the period. Baird Financial Group Inc. owned approximately 0.17% of Vita Coco worth $3,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after acquiring an additional 367 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Vita Coco during the first quarter worth about $111,000. US Bancorp DE lifted its holdings in Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after acquiring an additional 364 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Vita Coco by 16.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after acquiring an additional 758 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Vita Coco by 238.9% during the first quarter. State of Wyoming now owns 7,314 shares of the company's stock worth $224,000 after acquiring an additional 5,156 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CMO Jane Prior sold 10,000 shares of Vita Coco stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total value of $370,700.00. Following the completion of the transaction, the chief marketing officer owned 134,188 shares of the company's stock, valued at $4,974,349.16. This trade represents a 6.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $34.69, for a total transaction of $135,291.00. Following the completion of the transaction, the director directly owned 635,566 shares of the company's stock, valued at approximately $22,047,784.54. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,800 shares of company stock worth $2,125,026. Insiders own 34.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley lifted 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. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Piper Sandler upgraded 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. Finally, Wells Fargo & Company boosted their price target on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of "Moderate Buy" and an average price target of $38.38.

Vita Coco Price Performance

NASDAQ:COCO traded down $0.15 on Monday, hitting $38.39. 1,013,422 shares of the company's stock were exchanged, compared to its average volume of 713,336. The firm has a 50-day moving average price of $36.06 and a 200-day moving average price of $34.41. Vita Coco Company, Inc. has a 52 week low of $24.85 and a 52 week high of $40.32. The company has a market cap of $2.18 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 2.04 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm had revenue of $168.76 million for the quarter, compared to analysts' expectations of $162.20 million. During the same period in the previous year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, research analysts expect 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.