Nippon Life Global Investors Americas Inc. Makes New Investment in CocaCola Company (The) $KO

Key Points

• Nippon Life Global Investors Americas Inc. acquired 235,330 shares of CocaCola Company, worth approximately $16.96 million, during the first quarter.
• Multiple hedge funds increased their stakes in CocaCola, with DZ BANK AG raising its holdings by 14.9% to over 2.5 million shares valued at $157.89 million.
• Analysts have set varied price targets for CocaCola, with JPMorgan raising its target to $79.00 while the consensus rating remains at "Buy" with a target of $77.21.

Nippon Life Global Investors Americas Inc. acquired a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 235,330 shares of the company's stock, valued at approximately $16,962,000.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Concentric Capital Strategies LP bought a new stake in shares of CocaCola in the 4th quarter valued at $241,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in CocaCola by 14.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,535,906 shares of the company's stock valued at $157,886,000 after purchasing an additional 328,501 shares during the period. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

CocaCola stock traded down $0.53 during mid-day trading on Monday, reaching $67.43. 21,649,399 shares of the company were exchanged, compared to its average volume of 16,943,547. The firm's 50-day simple moving average is $69.65 and its two-hundred day simple moving average is $70.49. The firm has a market cap of $290.18 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola's dividend payout ratio is presently 72.34%.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KO. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group cut their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and an average target price of $77.21.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.