CocaCola Company (The) $KO Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S cut its position in CocaCola Company (The) (NYSE:KO - Free Report) by 26.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,275,613 shares of the company's stock after selling 462,900 shares during the quarter. CocaCola makes up 1.0% of BI Asset Management Fondsmaeglerselskab A S's investment portfolio, making the stock its 15th biggest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in CocaCola were worth $91,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP increased its position in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. Northern Trust Corp raised its holdings in shares of CocaCola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the last quarter. Nuveen LLC purchased a new stake in shares of CocaCola in the first quarter valued at $1,508,657,000. Finally, Fayez Sarofim & Co boosted its stake in shares of CocaCola by 6.7% during the fourth quarter. Fayez Sarofim & Co now owns 18,408,210 shares of the company's stock valued at $1,148,609,000 after acquiring an additional 1,155,538 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group cut their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted 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. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Stock Up 0.7%

NYSE:KO traded up $0.5090 on Wednesday, reaching $70.6390. The stock had a trading volume of 17,527,593 shares, compared to its average volume of 13,082,515. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average of $69.92 and a 200 day moving average of $70.24. The stock has a market cap of $304.01 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.65 and a beta of 0.44. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Announces Dividend

The company also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Insider Transactions at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.

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.