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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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
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Market Context
This announcement highlights TGNA’s exit from the S&P SmallCap 600 following the completed acquisiti...
Analysis
This announcement highlights TGNA’s exit from the S&P SmallCap 600 following the completed acquisition by Nexstar Media Group, a step that formalizes the company’s transition to a wholly owned subsidiary. Recent history shows the deal progress through earnings updates, a tender offer for $1.1B of notes, and multiple merger-related Form 4 filings documenting cash consideration of $22.00 per share. Investors monitoring this situation would focus on remaining regulatory filings and how Nexstar integrates TGNA’s assets operationally.
Key Figures
Share price:$20.03Relative volume:2.4xMerger consideration:$22.00 per share+5 more
8 metrics
Share price$20.03TGNA pre-close price before index deletion news
Relative volume2.4xToday vs 20-day average volume
Merger consideration$22.00 per shareCash paid for each TGNA share in Nexstar merger
Q4 2025 revenue$706MQuarter ended 2025, down 19% YoY
FY 2025 revenue$2,712MFull-year 2025, down 13% YoY
Two-year FCF$1.0BAdjusted free cash flow over two years
Senior notes outstanding$1,100,000,000TEGNA 5.000% notes due 2029 in Nexstar tender offer
Quarterly dividend$0.125 per shareDividend payable April 1, 2026
Launched mobile app across 50 markets with sharply higher video plays and sessions.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent TGNA news around the Nexstar transaction, dividends, and product initiatives has mostly produced small price moves, with occasional divergences where positive corporate developments did not translate into gains.
Recent Company History
Over the past few months, TGNA’s trajectory has been shaped by the pending and now completed acquisition by Nexstar. On Jan 28, TGNA launched a new mobile app across 50 markets, followed by an award-winning investigation recognized on Jan 29. A regular dividend of $0.125 per share was declared for payment on April 1, 2026. Q4 2025 results on Mar 2 highlighted revenue declines but confirmed the proposed $22.00-per-share acquisition. Nexstar’s tender offer for TGNA’s $1.1B of 2029 notes on Mar 5 further advanced the transaction, leading into today’s index removal after the deal closed.
Key Terms
s&p smallcap 600, index, s&p 500, dow jones industrial average, +1 more
5 terms
s&p smallcap 600financial
"The Vita Coco Company Inc. (NASD: COCO) will replace TEGNA Inc. ... in the S&P SmallCap 600"
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.
indexfinancial
"ABOUT S&P DOW JONES INDICES S&P Dow Jones Indices is the largest global resource for essential index-based concepts"
An index is a single number that tracks the combined performance of a group of stocks, bonds or other assets, acting like a market scorecard or thermometer for a particular industry, country or investment style. Investors use indexes to judge how a market or sector is doing, compare fund managers, and build or measure portfolios, since many funds aim to match or beat an index’s return.
"home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®"
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.
"Effective Date | Index Name | Action | Company Name | 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.
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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