KLP Kapitalforvaltning AS reduced its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) by 26.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,900 shares of the company’s stock after selling 2,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Vita Coco were worth $285,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE lifted its stake 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 buying an additional 364 shares during the period. CWM LLC lifted its position in Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after purchasing an additional 367 shares during the period. Principal Financial Group Inc. lifted its position in Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company’s stock valued at $1,343,000 after purchasing an additional 521 shares during the period. Credit Agricole S A lifted its position in Vita Coco by 1.5% during the first quarter. Credit Agricole S A now owns 36,140 shares of the company’s stock valued at $1,108,000 after purchasing an additional 521 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Vita Coco by 16.5% during the first 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 period. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on COCO shares. Wells Fargo & Company boosted their target price on shares of Vita Coco from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Needham & Company LLC started coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Zacks Research downgraded shares of Vita Coco from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.63.
Vita Coco Stock Performance
COCO opened at $40.96 on Monday. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $43.65. The company has a fifty day moving average of $38.43 and a two-hundred day moving average of $35.90. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.66 and a beta of 0.40.
Vita Coco (NASDAQ:COCO – Get Free Report) last released its quarterly earnings data 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. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million during the quarter, compared to analysts’ expectations of $162.20 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.
Insider Transactions at Vita Coco
In other news, CEO Martin Roper sold 1,835 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total transaction of $78,427.90. Following the completion of the sale, the chief executive officer owned 287,062 shares of the company’s stock, valued at $12,269,029.88. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 3,173 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $42.50, for a total transaction of $134,852.50. Following the sale, the chief operating officer directly owned 76,127 shares of the company’s stock, valued at $3,235,397.50. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,463,800 shares of company stock valued at $141,219,233 over the last 90 days. Corporate insiders own 34.20% of the company’s stock.
Vita Coco Company 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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