Amundi Grows Stock Position in CocaCola Company (The) $KO

Key Points

• Amundi increased its stake in CocaCola by 16% in the first quarter, acquiring an additional 2,922,619 shares, bringing its total holding to 21,236,315 shares valued at approximately $1.55 billion.
• Several institutional investors including Vanguard and Wellington Management have also increased their positions, with institutional ownership currently at 70.26% of CocaCola's stock.
• CocaCola declared a quarterly dividend of $0.51, representing an annualized yield of 3.0%, with the payout date set for October 1st.

Amundi lifted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,236,315 shares of the company's stock after purchasing an additional 2,922,619 shares during the period. CocaCola comprises approximately 0.6% of Amundi's portfolio, making the stock its 28th biggest holding. Amundi owned about 0.49% of CocaCola worth $1,554,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC purchased a new stake in CocaCola in the first quarter worth about $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its stake in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. Ridgewood Investments LLC raised its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC lifted its position in CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.97% of the company's stock.

CocaCola Stock Down 0.4%

Shares of NYSE KO traded down $0.31 during midday trading on Friday, hitting $67.95. The stock had a trading volume of 23,968,643 shares, compared to its average volume of 14,052,755. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business's 50 day moving average is $69.65 and its 200-day moving average is $70.48. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a market cap of $292.41 billion, a P/E ratio of 24.09, a PEG ratio of 3.55 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping 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 business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. CocaCola's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. 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 lowered their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $77.21.

CocaCola Company Profile

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.