CocaCola Company (The) $KO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. sold 3,477,554 shares of CocaCola, reducing its holdings by 77.5%, leaving 1,012,081 shares valued at approximately $71.6 million.
• CocaCola reported a quarterly EPS of $0.87, exceeding analyst estimates of $0.83, with revenues around $12.50 billion.
• The company announced a quarterly dividend of $0.51, with a scheduled payment date of October 1st, reflecting a 3.1% yield.

Assenagon Asset Management S.A. decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 77.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,012,081 shares of the company's stock after selling 3,477,554 shares during the period. Assenagon Asset Management S.A.'s holdings in CocaCola were worth $71,605,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the first quarter valued at approximately $25,000. 1248 Management LLC purchased a new position in CocaCola during the first quarter valued at approximately $26,000. Garde Capital Inc. purchased a new position in CocaCola during the first quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. grew its stake in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC grew its stake in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on KO. UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.93.

CocaCola Price Performance

KO traded up $0.42 during trading on Tuesday, reaching $66.63. 7,582,339 shares of the company traded hands, compared to its average volume of 16,942,166. 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 12-month low of $60.62 and a 12-month high of $74.38. The firm has a fifty day simple moving average of $68.87 and a 200 day simple moving average of $70.18. The company has a market cap of $286.74 billion, a P/E ratio of 23.63, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the firm posted $0.84 EPS. The company'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. On average, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

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.