Vita Coco Company, Inc. $COCO Holdings Boosted by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Vita Coco Company, Inc. by 3.4% in Q1, owning about 0.75% of the company valued at approximately $13 million.
• Vita Coco reported Q2 earnings of $0.38 per share, surpassing analyst expectations, with revenues rising 17.1% year-over-year.
• Institutional investors own 88.49% of Vita Coco's stock, with several large investors increasing their stakes in the company during the first quarter.

Northern Trust Corp boosted its holdings in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 424,987 shares of the company's stock after acquiring an additional 13,814 shares during the period. Northern Trust Corp owned about 0.75% of Vita Coco worth $13,026,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Vita Coco by 7.5% in 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 during the last quarter. CWM LLC lifted its holdings in Vita Coco by 14.7% in the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Vita Coco by 1.2% in the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock worth $1,343,000 after acquiring an additional 521 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Vita Coco by 16.5% in 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vita Coco by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock valued at $824,000 after purchasing an additional 842 shares during the period. Institutional investors own 88.49% of the company's stock.

Insider Activity

In related news, Director Ira Liran sold 3,152 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.02, for a total value of $116,687.04. Following the completion of the transaction, the director owned 635,189 shares of the company's stock, valued at approximately $23,514,696.78. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 635,566 shares of the company's stock, valued at $22,047,784.54. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,952 shares of company stock worth $1,500,913. Company insiders own 34.20% of the company's stock.

Vita Coco Price Performance

NASDAQ COCO opened at $36.65 on Thursday. Vita Coco Company, Inc. has a 12 month low of $24.09 and a 12 month high of $40.32. The firm has a market capitalization of $2.08 billion, a PE ratio of 34.25, a P/E/G ratio of 1.89 and a beta of 0.36. The company's 50 day simple moving average is $35.92 and its 200 day simple moving average is $34.48.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The business 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 business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on COCO. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Wells Fargo & Company raised their price target on shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler upgraded 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, August 20th. Finally, Morgan Stanley raised their price target on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.38.

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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