CX Institutional raised its position in shares of CocaCola Company (The) (NYSE:KO – Free Report) by 402.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,248 shares of the company’s stock after purchasing an additional 130,746 shares during the quarter. CX Institutional’s holdings in CocaCola were worth $14,052,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of CocaCola by 1.2% during the fourth quarter. State Street Corp now owns 167,850,330 shares of the company’s stock worth $11,734,417,000 after purchasing an additional 1,992,327 shares during the period. Bank of America Corp DE increased its holdings in CocaCola by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 45,958,636 shares of the company’s stock worth $3,735,058,000 after buying an additional 1,939,673 shares during the period. Franklin Resources Inc. increased its holdings in CocaCola by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 40,289,857 shares of the company’s stock worth $2,816,697,000 after buying an additional 1,195,581 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CocaCola by 0.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,354,414 shares of the company’s stock worth $2,954,523,000 after buying an additional 162,097 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in CocaCola by 9.2% during the 2nd quarter. Wellington Management Group LLP now owns 29,053,752 shares of the company’s stock worth $2,361,198,000 after buying an additional 2,439,026 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of CocaCola from $95.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of CocaCola from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $86.00 price target (up from $82.00) on shares of CocaCola in a report on Tuesday, July 28th. Barclays increased their price target on CocaCola from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Argus lifted their price objective on CocaCola from $91.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.18.
CocaCola Stock Performance
Shares of NYSE:KO traded down $0.51 during trading on Friday, hitting $85.59. 19,454,304 shares of the stock traded hands, compared to its average volume of 16,932,295. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average price of $88.01 and a two-hundred day moving average price of $82.38. CocaCola Company has a 52-week low of $65.84 and a 52-week high of $92.49. The company has a market cap of $368.24 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 3.35 and a beta of 0.32.
CocaCola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $13.17 billion. CocaCola had a net margin of 28.56% and a return on equity of 39.38%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. CocaCola has set its FY 2026 guidance at 3.270-3.300 EPS. As a group, equities analysts predict that CocaCola Company will post 3.29 EPS for the current year.
CocaCola Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 15th. CocaCola’s dividend payout ratio is presently 63.66%.
Insider Activity
In related news, insider Bruno Pietracci sold 111,365 shares of CocaCola stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $90.93, for a total value of $10,126,419.45. Following the completion of the transaction, the insider owned 41,365 shares in the company, valued at $3,761,319.45. The trade was a 72.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $90.39, for a total value of $4,519,500.00. Following the completion of the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $20,186,798.70. The trade was a 18.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 926,620 shares of company stock worth $83,075,714. 0.90% of the stock is currently owned by corporate insiders.
CocaCola Profile
The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Its portfolio includes sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and other ready-to-drink products. The company’s best-known brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, Powerade, Minute Maid, fairlife, and Georgia Coffee.
Founded in 1886, the company develops, owns, licenses, markets, and distributes beverage brands through a network of bottling partners, distributors, retailers, and food-service operators.
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