Voya Investment Management LLC Has $17.99 Million Stock Holdings in Vita Coco Company, Inc. $COCO

Key Points

• Voya Investment Management LLC significantly increased its holdings in Vita Coco by 3,376.9%, acquiring an additional 570,087 shares in the first quarter, bringing its total ownership to 586,969 shares valued at approximately $18 million.
• Several hedge funds have also notably increased their stakes in Vita Coco, with Bank of America Corp DE enhancing its holdings by 382.2% during the fourth quarter.
• Vita Coco's stock received mixed ratings from analysts, with some upgrades and downgrades, resulting in an average rating of "Moderate Buy" and a price target increase to $38.38.

Voya Investment Management LLC grew its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 3,376.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 586,969 shares of the company's stock after acquiring an additional 570,087 shares during the quarter. Voya Investment Management LLC owned about 1.03% of Vita Coco worth $17,991,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COCO. US Bancorp DE lifted its holdings in shares of 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 purchasing an additional 364 shares during the period. CWM LLC lifted its holdings 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 during the period. Principal Financial Group Inc. lifted its holdings in shares of Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock worth $1,343,000 after purchasing an additional 521 shares during the period. Credit Agricole S A lifted its holdings in shares of Vita Coco by 1.5% during the first quarter. Credit Agricole S A now owns 36,140 shares of the company's stock worth $1,108,000 after purchasing an additional 521 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of 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 purchasing an additional 758 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COCO has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Wells Fargo & Company raised 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. Piper Sandler raised 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 lifted their price objective on 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 given 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 Stock Performance

Shares of NASDAQ COCO traded up $0.47 during trading on Friday, reaching $39.73. The stock had a trading volume of 2,075,385 shares, compared to its average volume of 1,041,227. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $42.81. The stock has a market cap of $2.26 billion, a PE ratio of 37.13, a P/E/G ratio of 2.08 and a beta of 0.36. The firm's 50 day moving average price is $36.47 and its two-hundred day moving average price is $34.73.

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

Insider Activity at Vita Coco

In other news, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $40.77, for a total value of $122,310,000.00. Following the completion of the sale, the insider owned 4,097,161 shares in the company, valued at $167,041,253.97. This represents a 42.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira Liran sold 50,000 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total value of $2,100,000.00. Following the completion of the sale, the director owned 692,579 shares of the company's stock, valued at approximately $29,088,318. This trade represents a 6.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,351,133 shares of company stock worth $136,449,456 in the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

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.