Conestoga Capital Advisors LLC Raises Position in Vita Coco Company, Inc. $COCO

Conestoga Capital Advisors LLC grew its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 28.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,560 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.08% of Vita Coco worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of Vita Coco by 7.5% during 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. CWM LLC increased its position in shares of Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company’s stock valued at $88,000 after acquiring an additional 367 shares during the period. Principal Financial Group Inc. increased its position in shares of Vita Coco by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 43,809 shares of the company’s stock valued at $1,343,000 after acquiring an additional 521 shares during the period. Credit Agricole S A increased its position in shares of Vita Coco by 1.5% in the 1st quarter. Credit Agricole S A now owns 36,140 shares of the company’s stock valued at $1,108,000 after acquiring an additional 521 shares during the period. Finally, Moran Wealth Management LLC increased its position in shares of Vita Coco by 3.9% in the 2nd quarter. Moran Wealth Management LLC now owns 19,376 shares of the company’s stock valued at $699,000 after acquiring an additional 731 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC assumed coverage on Vita Coco in a research report on Wednesday, September 24th. They issued a “hold” rating on the stock. Zacks Research downgraded Vita Coco from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Piper Sandler raised Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Morgan Stanley upped their target price on Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group upped their price target on shares of Vita Coco from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.63.

Insider Transactions at Vita Coco

In related news, CEO Martin Roper sold 1,835 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $42.74, for a total value of $78,427.90. Following the transaction, the chief executive officer directly owned 287,062 shares of the company’s stock, valued at approximately $12,269,029.88. This trade represents a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 3,173 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $42.50, for a total transaction of $134,852.50. Following the completion of the transaction, the chief operating officer directly owned 76,127 shares in the company, valued at $3,235,397.50. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,463,800 shares of company stock valued at $141,219,233 in the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Vita Coco Stock Performance

NASDAQ:COCO opened at $40.96 on Monday. The firm’s fifty day moving average is $38.43 and its two-hundred day moving average is $35.90. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $43.65. The firm has a market cap 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) last posted its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The business had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same period in the prior year, the company posted $0.32 EPS. The company’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. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

About Vita Coco

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.