Artisan Partners Limited Partnership Trims Stock Position in Vita Coco Company, Inc. $COCO

Artisan Partners Limited Partnership lessened its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,849,024 shares of the company’s stock after selling 15,913 shares during the quarter. Artisan Partners Limited Partnership owned 3.25% of Vita Coco worth $66,750,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COCO. Ameritas Advisory Services LLC acquired a new stake in Vita Coco during the second quarter worth about $50,000. CWM LLC boosted its position in Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company’s stock worth $88,000 after purchasing an additional 367 shares in the last quarter. Militia Capital Partners LP boosted its position in Vita Coco by 60.0% in the 1st quarter. Militia Capital Partners LP now owns 3,200 shares of the company’s stock worth $98,000 after purchasing an additional 1,200 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Vita Coco during the 1st quarter worth approximately $111,000. Finally, US Bancorp DE increased 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 in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $46.22 on Friday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 40.19, a PEG ratio of 1.58 and a beta of 0.39. The business has a 50 day simple moving average of $41.77 and a two-hundred day simple moving average of $37.80. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $50.50.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Vita Coco had a return on equity of 25.08% and a net margin of 11.35%.The firm had revenue of $182.31 million for the quarter, compared to analyst estimates of $154.96 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue was up 37.2% on a year-over-year basis. 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 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Vita Coco from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Evercore ISI raised their target price on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday. Piper Sandler set a $47.00 price target on Vita Coco and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price objective on Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

Insider Buying and Selling at Vita Coco

In other news, Chairman Michael Kirban sold 5,102 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $44.00, for a total value of $224,488.00. Following the completion of the sale, the chairman directly owned 1,479,049 shares in the company, valued at $65,078,156. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $47.12, for a total transaction of $183,768.00. Following the transaction, the director owned 616,066 shares in the company, valued at $29,029,029.92. The trade was a 0.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,742,758 shares of company stock valued at $154,068,092. 32.30% of the stock is owned by company insiders.

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.