Envestnet Asset Management Inc. Increases Stake in Vita Coco Company, Inc. $COCO

Envestnet Asset Management Inc. grew its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,243 shares of the company’s stock after acquiring an additional 1,872 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Vita Coco worth $1,200,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock valued at $80,987,000 after purchasing an additional 53,172 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Vita Coco by 14.4% during the 1st quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock worth $29,954,000 after buying an additional 122,674 shares in the last quarter. Aberdeen Group plc raised its stake in shares of Vita Coco by 14.6% during the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company’s stock worth $22,250,000 after buying an additional 92,590 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Vita Coco by 3,376.9% in the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after buying an additional 570,087 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company’s stock valued at $15,676,000 after buying an additional 258,521 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COCO. Zacks Research upgraded Vita Coco from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Evercore ISI increased their price target on shares of Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and raised their price objective for the company from $48.00 to $54.00 in a research note on Monday. Morgan Stanley upped their target price on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.38.

Vita Coco Trading Down 2.3%

Shares of NASDAQ COCO opened at $46.22 on Friday. The company’s 50-day moving average price is $41.77 and its 200 day moving average price is $37.80. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $50.50. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 1.58 and a beta of 0.39.

Vita Coco (NASDAQ:COCO) last announced its 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. The company had revenue of $182.31 million during the quarter, compared to analysts’ expectations of $154.96 million. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ira Liran sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total value of $2,100,000.00. Following the sale, the director owned 692,579 shares of the company’s stock, valued at approximately $29,088,318. This represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,000,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $40.77, for a total value of $122,310,000.00. Following the transaction, the insider directly owned 4,097,161 shares of the company’s stock, valued at $167,041,253.97. The trade was a 42.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,742,758 shares of company stock valued at $154,068,092. 32.30% of the stock is currently owned by company insiders.

Vita Coco 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.