CocaCola Company (The) (NYSE:KO) Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in CocaCola by 14.7% in Q1 2023, owning a total of 175,330 shares valued at $12.56 million after purchasing 22,429 additional shares.
• Several major investors, including Northern Trust Corp and Capital International Investors, significantly increased their positions in CocaCola during the fourth quarter, reflecting a strong institutional interest in the stock.
• CocaCola recently announced a quarterly dividend of $0.51 per share, scheduled for payment on October 1, representing an annualized dividend yield of 2.95%.

Assetmark Inc. grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 175,330 shares of the company's stock after acquiring an additional 22,429 shares during the period. Assetmark Inc.'s holdings in CocaCola were worth $12,557,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in 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 purchasing an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in CocaCola by 3.4% during the fourth 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 boosted its holdings in CocaCola by 12.2% during the fourth 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. Pictet Asset Management Holding SA boosted its holdings in CocaCola by 9.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,172,065 shares of the company's stock worth $197,493,000 after purchasing an additional 269,491 shares during the last quarter. Finally, RiverFront Investment Group LLC boosted its holdings in CocaCola by 16.4% during the fourth quarter. RiverFront Investment Group LLC now owns 122,309 shares of the company's stock worth $7,615,000 after purchasing an additional 17,263 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KO. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group decreased their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price 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, Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $77.21.

CocaCola Trading Down 0.3%

CocaCola stock traded down $0.23 during trading hours on Wednesday, hitting $69.15. The company had a trading volume of 2,240,582 shares, compared to its average volume of 17,230,512. 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 1 year low of $60.62 and a 1 year high of $74.38. The company has a 50-day moving average price of $70.52 and a two-hundred day moving average price of $69.50. The firm has a market cap of $297.63 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.54 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

Insider Activity at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer owned 205,511 shares of the company's stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president directly owned 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock valued at $29,923,985 in the last three months. 0.90% of the stock is owned by insiders.

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.