The Vita Coco Company (NASD: COCO) will be added to the S&P SmallCap 600 effective prior to market open on March 25, 2026, replacing TEGNA (TGNA) after Nexstar closed its acquisition of TEGNA on March 20, 2026.
The change was announced by S&P Dow Jones Indices and lists Vita Coco in the Consumer Staples GICS sector for index composition purposes.
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Positive
Index addition: Added to S&P SmallCap 600 effective March 25, 2026
Replacement: Replaces TEGNA after Nexstar acquisition closed March 20, 2026
GICS classification: Assigned to Consumer Staples sector in index
Negative
None.
News Market Reaction – NXST
+1.51%
5 alerts
+1.51%Session close to close
+3.7%Peak in 9 min
$7.35BMarket Cap
0.2xRel. Volume
In the Mar 23 session, NXST gained 1.51%, reflecting a mild positive market reaction.
Argus tracked a peak move of +3.7% during that session.
Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.
This announcement highlights index changes that follow Nexstar’s completed acquisition of TEGNA, wit...
Analysis
This announcement highlights index changes that follow Nexstar’s completed acquisition of TEGNA, with Vita Coco joining the S&P SmallCap 600 and TEGNA exiting. For Nexstar, context includes recent financing steps involving $3,390 million and $1,725 million note offerings and multiple related 8-K filings. Investors may focus on how the enlarged company manages leverage, executes on integration, and approaches upcoming catalysts such as the Q1 2026 earnings release when evaluating this post-acquisition phase.
Key Figures
Effective date:March 25, 2026Index membership:S&P SmallCap 600Current price:$184.30+5 more
8 metrics
Effective dateMarch 25, 2026Index change effective prior to market open
Index membershipS&P SmallCap 600Vita Coco added; TEGNA removed
Closing of TEGNA acquisition following approvals from FCC and U.S. Department of Justice.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent financing and acquisition-related announcements have produced mixed reactions, with some debt issuance news sold off and the TEGNA acquisition itself met with a positive move.
Recent Company History
Over the past month, Nexstar focused on closing and financing the TEGNA acquisition. On Mar 19, 2026, it closed the deal after FCC and DOJ approvals, and the stock rose 1.69%. Multiple announcements on Mar 20–23 detailed offerings and pricing of $3,390 million and $1,725 million in new notes, with at least one such update coinciding with a -3.7% move. A later tender offer/early settlement update also drew a negative reaction. The most recent item, a Q1 2026 earnings date notice, saw a modest decline of -2.59%. Today’s index-change news references this completed acquisition backdrop.
Key Terms
s&p smallcap 600, gics sector, s&p 500, dow jones industrial average, +1 more
5 terms
s&p smallcap 600financial
"March 25, 2026 | S&P SmallCap 600 | Addition | The Vita Coco Company"
A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.
gics sectorfinancial
"Ticker | GICS Sector"
GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.
s&p 500financial
"home to iconic financial market indicators, such as the S&P 500® and the Dow"
The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.
"such as the S&P 500® and the Dow Jones Industrial Average®."
A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.
"S&P Dow Jones Indices is the largest global resource for essential index-based concepts"
Indices are measurements that track the combined performance of a selected group of stocks or other financial assets, acting like a thermometer for a segment of the market. They matter to investors because they reveal broad market trends, provide a benchmark to judge how individual investments perform, and underpin index-based funds that let people buy wide exposure without choosing single stocks — like buying the score of a whole team instead of one player.
NEW YORK, March 20, 2026 /PRNewswire/ -- The Vita Coco Company Inc. (NASD: COCO) will replace TEGNA Inc. (NYSE: TGNA) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, March 25. S&P MidCap 400 constituent Nexstar Media Group Inc. (NASD: NXST) has acquired TEGNA in a deal that closed today, March 20.
Following is a summary of the change that will take place prior to the open of trading on the effective date:
Effective Date
Index Name
Action
Company Name
Ticker
GICS Sector
March 25, 2026
S&P SmallCap 600
Addition
The Vita Coco Company
COCO
Consumer Staples
March 25, 2026
S&P SmallCap 600
Deletion
TEGNA
TGNA
Communication Services
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.
COCO will join the S&P SmallCap 600 effective prior to trading on March 25, 2026. According to S&P Dow Jones Indices, the change becomes effective before the market open on that date, replacing TEGNA after its acquisition closed March 20, 2026.
Why is COCO being added to the S&P SmallCap 600 on March 25, 2026?
COCO is added to fill the vacancy created by TEGNA's removal following a corporate acquisition. According to S&P Dow Jones Indices, Nexstar's acquisition of TEGNA closed March 20, prompting the index reconstitution effective March 25, 2026.
What does COCO's inclusion in the S&P SmallCap 600 mean for shareholders?
Inclusion means COCO is part of the S&P SmallCap 600 index starting March 25, 2026. According to S&P Dow Jones Indices, index-tracking funds will use the index composition for rebalancing, affecting demand for COCO shares around the effective date.
Which company did COCO replace in the S&P SmallCap 600 and why?
COCO replaces TEGNA (TGNA) in the S&P SmallCap 600 effective March 25, 2026. According to S&P Dow Jones Indices, Nexstar Media Group completed its acquisition of TEGNA on March 20, 2026, prompting TEGNA's deletion.
What GICS sector will COCO be listed under in the S&P SmallCap 600?
COCO will be classified in the Consumer Staples GICS sector within the S&P SmallCap 600. According to S&P Dow Jones Indices, the March 25, 2026 index update assigns Vita Coco to Consumer Staples for index construction.
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