AQR Capital Management LLC Sells 335,770 Shares of CocaCola Company (The) $KO

Key Points

• AQR Capital Management LLC decreased its holdings in Coca-Cola by 12.8%, bringing its ownership to 2,284,364 shares worth approximately $163.61 million.
• Several institutional investors, including Mizuho Securities and Moser Wealth Advisors, notably increased their stakes in Coca-Cola during the 1st quarter, reflecting strong institutional interest.
• Coca-Cola's stock currently has a consensus Buy rating from analysts, with a target price averaging around $77.21.

AQR Capital Management LLC trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 12.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,284,364 shares of the company's stock after selling 335,770 shares during the quarter. AQR Capital Management LLC owned about 0.05% of CocaCola worth $163,606,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after buying an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Amundi raised its holdings in shares of CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company's stock valued at $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Nuveen LLC bought a new position in shares of CocaCola in the first quarter valued at about $1,508,657,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of CocaCola by 5.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company's stock valued at $1,155,499,000 after buying an additional 866,773 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Trading Down 0.4%

Shares of CocaCola stock traded down $0.31 during trading on Friday, hitting $67.95. 23,968,643 shares of the company were exchanged, compared to its average volume of 14,052,755. The firm has a market capitalization of $292.41 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm's fifty day moving average price is $69.65 and its 200 day moving average price is $70.48. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid 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 presently 72.34%.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued 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 stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, 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. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat.com, CocaCola has an average rating of "Buy" and an average price target 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.