Vanguard Group Inc. Purchases 53,172 Shares of Vita Coco Company, Inc. $COCO

Key Points

• Vanguard Group Inc. increased its stake in Vita Coco Company, Inc. by 2.1%, owning approximately 4.66% of the company, valued at around $80.99 million.
• Several analysts have mixed views on Vita Coco, with Wells Fargo increasing their price target from $43 to $45, while Wall Street Zen downgraded it from "buy" to "hold," leaving the stock with a consensus rating of "Moderate Buy."
• Vita Coco's recent earnings report showed 17.1% year-over-year revenue growth, with earnings per share of $0.38, surpassing analyst expectations of $0.36.

Vanguard Group Inc. lifted its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,642,306 shares of the company's stock after purchasing an additional 53,172 shares during the quarter. Vanguard Group Inc. owned about 4.66% of Vita Coco worth $80,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC grew its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the period. CWM LLC grew its stake in Vita Coco by 14.7% during the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after buying an additional 367 shares during the last quarter. US Bancorp DE grew its stake in Vita Coco by 7.5% during the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after buying an additional 364 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Vita Coco by 16.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock valued at $164,000 after purchasing an additional 758 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new position in shares of Vita Coco in the 4th quarter valued at approximately $216,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on COCO shares. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target for the company in a report on Wednesday, August 20th. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price target on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and an average target price of $38.38.

Insider Buying and Selling at Vita Coco

In related news, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the transaction, the insider owned 94,127 shares in the company, valued at $3,578,708.54. This trade represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $34.69, for a total transaction of $135,291.00. Following the completion of the sale, the director directly owned 635,566 shares in the company, 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. Insiders have sold 40,952 shares of company stock worth $1,500,913 in the last 90 days. 32.30% of the stock is owned by company insiders.

Vita Coco Trading Up 0.1%

Shares of Vita Coco stock traded up $0.03 on Thursday, hitting $34.68. 296,433 shares of the company traded hands, compared to its average volume of 727,863. The firm's 50-day simple moving average is $35.90 and its 200 day simple moving average is $34.61. The company has a market cap of $1.97 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.77 and a beta of 0.37. Vita Coco Company, Inc. has a 12-month low of $24.09 and a 12-month high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $168.76 million for 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 firm's revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. Analysts predict 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.