Lord Abbett & CO. LLC Reduces Stock Holdings in Vita Coco Company, Inc. $COCO

Key Points

• Lord Abbett & CO. LLC has reduced its stake in Vita Coco Company, Inc. by 25%, owning 418,400 shares after selling 139,608 shares, which amounts to a position valued at about $12.8 million.
• For the latest quarter, Vita Coco reported $0.38 EPS, exceeding expectations of $0.36, with a revenue increase of 17.1% year-over-year to $168.76 million.
• Current stock ratings feature a consensus of "Moderate Buy", with price targets ranging from $35.00 to $45.00 based on various analysts' reports.

Lord Abbett & CO. LLC decreased its stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 418,400 shares of the company's stock after selling 139,608 shares during the quarter. Lord Abbett & CO. LLC owned 0.74% of Vita Coco worth $12,824,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC raised its stake in Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after buying an additional 613 shares during the period. CWM LLC increased its stake in shares of 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 purchasing an additional 367 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Vita Coco during the first quarter worth about $111,000. Summit Investment Advisors Inc. boosted its position in Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after acquiring an additional 347 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Vita Coco by 7.5% in the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after purchasing an additional 364 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Insiders Place Their Bets

In other Vita Coco news, CMO Jane Prior sold 10,000 shares of Vita Coco stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total transaction of $370,700.00. Following the transaction, the chief marketing officer directly owned 134,188 shares of the company's stock, valued at $4,974,349.16. The trade was a 6.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $37.65, for a total value of $146,835.00. Following the completion of the sale, the director owned 631,666 shares in the company, valued at $23,782,224.90. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,800 shares of company stock valued at $1,384,226 in the last three months. 32.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target on the stock in a research note on Wednesday. Wells Fargo & Company increased their price target on shares of Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Evercore ISI raised their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.38.

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.6950 on Thursday, hitting $35.2250. The company had a trading volume of 267,101 shares, compared to its average volume of 721,609. The firm has a market capitalization of $2.00 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.80 and a beta of 0.37. The stock has a 50-day moving average of $35.81 and a 200-day moving average of $34.69. Vita Coco Company, Inc. has a twelve month low of $24.09 and a twelve month high of $40.32.

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