Vita Coco Company, Inc. $COCO Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,283 shares of the company’s stock after selling 5,087 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.56% of Vita Coco worth $9,817,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Vita Coco by 382.2% during the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Vita Coco by 77.3% during the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after buying an additional 372,633 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Vita Coco by 62.2% in the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock valued at $19,776,000 after acquiring an additional 247,339 shares during the period. Wellington Management Group LLP increased its position in shares of Vita Coco by 173.2% in the 4th quarter. Wellington Management Group LLP now owns 252,941 shares of the company’s stock valued at $9,336,000 after acquiring an additional 160,353 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Vita Coco in the 4th quarter worth $3,970,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity

In related news, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider owned 94,127 shares of the company’s stock, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jane Prior sold 10,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $37.07, for a total transaction of $370,700.00. Following the transaction, the chief marketing officer directly owned 134,188 shares in the company, valued at approximately $4,974,349.16. The trade was a 6.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,800 shares of company stock worth $1,384,226 in the last quarter. Corporate insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 2.0%

COCO stock opened at $36.73 on Monday. Vita Coco Company, Inc. has a 52-week low of $24.09 and a 52-week high of $40.32. The firm has a market cap of $2.09 billion, a P/E ratio of 34.33, a PEG ratio of 1.94 and a beta of 0.37. The company’s 50-day simple moving average is $35.92 and its 200-day simple moving average is $34.64.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.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 prior year, the firm posted $0.32 EPS. Vita Coco’s quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. On average, analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COCO has been the topic of several research analyst reports. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Morgan Stanley lifted their target price on Vita Coco from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price target on the stock in a report on Wednesday, August 20th. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI upped their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.38.

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.