Great Lakes Advisors LLC Has $674,000 Stock Position in Vita Coco Company, Inc. $COCO

Key Points

• Great Lakes Advisors LLC reduced its holdings in Vita Coco Company by 50.2%, owning 22,006 shares worth $674,000 after selling a significant number of shares in the first quarter.
• Bank of America Corp DE dramatically increased its stake in Vita Coco by 382.2%, adding over 400,000 shares, bringing its total to 512,120 shares valued at approximately $18.9 million.
• Vita Coco's stock has received multiple rating updates, with Wall Street analysts generally favoring it, reflected by a consensus rating of "Moderate Buy" and price targets varying from $38.00 to $45.00.

Great Lakes Advisors LLC lessened its holdings in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 50.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,006 shares of the company's stock after selling 22,213 shares during the period. Great Lakes Advisors LLC's holdings in Vita Coco were worth $674,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of COCO. Northern Trust Corp boosted its stake in shares of Vita Coco by 8.2% in the 4th quarter. Northern Trust Corp now owns 411,173 shares of the company's stock valued at $15,176,000 after purchasing an additional 31,050 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Vita Coco in the fourth quarter valued at approximately $1,806,000. Bank of America Corp DE boosted its position in Vita Coco by 382.2% in the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after buying an additional 405,913 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Vita Coco by 55.5% during the fourth quarter. Captrust Financial Advisors now owns 33,106 shares of the company's stock worth $1,222,000 after buying an additional 11,815 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Vita Coco by 8.4% during the fourth quarter. Deutsche Bank AG now owns 150,343 shares of the company's stock worth $5,549,000 after buying an additional 11,674 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Insider Activity at Vita Coco

In related news, CFO Corey Baker sold 1,000 shares of Vita Coco stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $38.16, for a total transaction of $38,160.00. Following the completion of the transaction, the chief financial officer owned 39,754 shares of the company's stock, valued at $1,517,012.64. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Kirban sold 30,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the completion of the transaction, the chairman owned 1,599,049 shares in the company, valued at approximately $62,618,758.84. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,800 shares of company stock valued at $3,414,496 over the last 90 days. 32.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COCO. Morgan Stanley raised their price objective on Vita Coco from $35.00 to $38.00 and gave the company 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 research note on Saturday, June 7th. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective for the company in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company lifted their target price on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.38.

Vita Coco Trading Up 1.2%

Shares of COCO stock opened at $38.99 on Friday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $40.32. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.04 and a beta of 0.36. The stock has a 50-day moving average of $36.15 and a 200-day moving average of $34.47.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business had revenue of $168.76 million for the quarter, compared to analysts' expectations of $162.20 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. 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 year.

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.

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