AMI Asset Management Corp Decreases Stock Holdings in Vita Coco Company, Inc. $COCO

AMI Asset Management Corp reduced its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 46.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,141 shares of the company’s stock after selling 29,541 shares during the period. AMI Asset Management Corp’s holdings in Vita Coco were worth $1,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings 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 buying an additional 367 shares during the last quarter. Militia Capital Partners LP purchased a new stake in Vita Coco during the first quarter valued at approximately $98,000. Caitong International Asset Management Co. Ltd purchased a new stake in Vita Coco during the first quarter valued at approximately $111,000. US Bancorp DE increased its holdings in Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company’s stock valued at $161,000 after buying an additional 364 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 buying an additional 758 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COCO has been the subject of a number of research reports. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Wells Fargo & Company upped their price target on shares of Vita Coco from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Needham & Company LLC initiated coverage on shares of Vita Coco in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target for the company in a research report on Wednesday, August 20th. Finally, Morgan Stanley upped their target price on shares of Vita Coco from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

Vita Coco Stock Performance

NASDAQ:COCO opened at $42.41 on Thursday. Vita Coco Company, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $43.28. The stock has a market capitalization of $2.41 billion, a P/E ratio of 39.64, a P/E/G ratio of 2.26 and a beta of 0.40. The company’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $35.12.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping 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 period last year, the business earned $0.32 EPS. Vita Coco’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, research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Insider Activity

In other news, insider Es Charles Van sold 20,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.04, for a total transaction of $840,800.00. Following the completion of the transaction, the insider directly owned 84,328 shares of the company’s stock, valued at $3,545,149.12. The trade was a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 50,000 shares of Vita Coco stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the transaction, the director directly owned 692,579 shares of the company’s stock, valued at approximately $29,088,318. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,425,906 shares of company stock worth $139,546,526. 32.30% of the stock is currently owned by corporate insiders.

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.