Piper sees three companies benefitting from updated Trump tariffs

Piper Sandler says President Trump’s exemption of coffee and cocoa from higher tariff rates, effective November 13, is positive for Vita Coco (COCO), Hershey (HSY) and Keurig Dr Pepper (KDP). Late Friday’s announcement is on top of previously announced lower tariffs on most imports from Argentina, Guatemala, and El Salvador, and 15% tariffs on Ecuador, the analyst tells investors in a research note. Piper points out that Hershey’s cocoa, Keurig’s coffee, and Vita’s coconut water are now exempt. For Hershey, cocoa import tariff costs are estimated at $50M per quarter, and for Vita, its 2026 tariffs could have been $55M, which now would appear to reset to zero, the firm contends.