Campbell & CO Investment Adviser LLC Buys 15,492 Shares of CocaCola Company (The) $KO

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in CocaCola by 53.7% during the first quarter, now holding $3.18 million worth of shares.
• CocaCola's CEO, James Quincey, sold over 266,000 shares in May 2023, marking a significant decrease in his holdings by 49.12%.
• The company plans to pay a quarterly dividend of $0.51 per share on October 1st, with an estimated annual yield of 2.9%.

Campbell & CO Investment Adviser LLC lifted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 53.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,368 shares of the company's stock after acquiring an additional 15,492 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in CocaCola were worth $3,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP grew its holdings in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Boston Partners acquired a new stake in CocaCola during the 1st quarter worth $642,183,000. GAMMA Investing LLC grew its holdings in shares of CocaCola by 8,419.4% in the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after buying an additional 5,891,034 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of CocaCola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

CocaCola Trading Down 0.2%

Shares of NYSE:KO traded down $0.12 during mid-day trading on Tuesday, reaching $68.81. 17,947,439 shares of the company's stock were exchanged, compared to its average volume of 12,743,540. The firm has a market capitalization of $296.12 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.59 and a beta of 0.44. The business's fifty day moving average price is $69.80 and its 200-day moving average price is $70.47. 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 twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced 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 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 the consensus estimate of $12.55 billion. During the same quarter last year, the firm earned $0.84 earnings per share. CocaCola's quarterly 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, research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KO shares. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group lowered their price target 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. Finally, JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target 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.