JW Asset Management LLC Sells 65,000 Shares of Vita Coco Company, Inc. $COCO

JW Asset Management LLC cut its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 22.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,621 shares of the company’s stock after selling 65,000 shares during the quarter. Vita Coco accounts for 4.1% of JW Asset Management LLC’s holdings, making the stock its 6th largest position. JW Asset Management LLC’s holdings in Vita Coco were worth $8,325,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its position in Vita Coco by 398.5% during the first quarter. Invesco Ltd. now owns 97,862 shares of the company’s stock worth $2,999,000 after buying an additional 78,229 shares in the last quarter. Northern Trust Corp lifted its position in shares of Vita Coco by 3.4% during the 1st quarter. Northern Trust Corp now owns 424,987 shares of the company’s stock valued at $13,026,000 after acquiring an additional 13,814 shares during the period. Wellington Management Group LLP grew its holdings in shares of Vita Coco by 102.2% during the 1st quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock worth $15,676,000 after purchasing an additional 258,521 shares in the last quarter. Nuveen LLC bought a new position in shares of Vita Coco in the first quarter worth $3,041,000. Finally, PDT Partners LLC increased its position in shares of Vita Coco by 133.1% in the first quarter. PDT Partners LLC now owns 64,108 shares of the company’s stock worth $1,965,000 after purchasing an additional 36,610 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Trading Up 3.6%

Shares of Vita Coco stock opened at $45.43 on Tuesday. The firm’s 50 day moving average is $41.29 and its 200 day moving average is $37.59. The firm has a market capitalization of $2.59 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.39. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $50.50.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The company’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Vita Coco

In related news, Director John Zupo sold 10,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the sale, the director owned 12,162 shares in the company, valued at $531,722.64. The trade was a 45.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Jane Prior sold 10,000 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $45.24, for a total value of $452,400.00. Following the completion of the transaction, the chief marketing officer owned 123,666 shares of the company’s stock, valued at $5,594,649.84. This represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,666,634 shares of company stock worth $150,226,935 over the last 90 days. 34.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COCO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday. Needham & Company LLC assumed coverage on shares of Vita Coco in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $48.00 to $54.00 in a research report on Monday. Finally, Jefferies Financial Group raised their target price on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.63.

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.