KLP Kapitalforvaltning AS Reduces Position in Vita Coco Company, Inc. $COCO

KLP Kapitalforvaltning AS lessened its holdings in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 26.9% in the 2nd quarter, Holdings Channel reports. The fund owned 7,900 shares of the company’s stock after selling 2,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Vita Coco were worth $285,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Vita Coco by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company’s stock valued at $80,987,000 after acquiring an additional 53,172 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Vita Coco by 14.4% during the 1st quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company’s stock valued at $29,954,000 after acquiring an additional 122,674 shares in the last quarter. GW&K Investment Management LLC grew its stake in Vita Coco by 16.2% during the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company’s stock valued at $23,191,000 after acquiring an additional 105,401 shares in the last quarter. Aberdeen Group plc grew its stake in Vita Coco by 14.6% during the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company’s stock valued at $22,250,000 after acquiring an additional 92,590 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Vita Coco by 62.2% during 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 in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

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 shares were sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the sale, the director directly owned 692,579 shares of the company’s stock, valued at $29,088,318. This represents a 6.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $39.16, for a total transaction of $1,174,800.00. Following the sale, the chairman directly owned 1,599,049 shares in the company, valued at approximately $62,618,758.84. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,463,800 shares of company stock worth $141,219,233. 34.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Vita Coco from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Piper Sandler upgraded shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 target price on the stock in a report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vita Coco has an average rating of “Hold” and a consensus target price of $40.63.

Vita Coco Stock Performance

Shares of COCO stock opened at $40.96 on Monday. The firm’s 50 day moving average price is $38.43 and its 200-day moving average price is $35.90. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $43.65. The firm has a market cap of $2.33 billion, a P/E ratio of 38.28, a P/E/G ratio of 2.66 and a beta of 0.40.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm had revenue of $168.76 million for the quarter, compared to analyst estimates of $162.20 million. During the same period in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, research analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

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.