Canada Pension Plan Investment Board Cuts Position in CocaCola Company (The) $KO

Key Points

• The Canada Pension Plan Investment Board significantly reduced its stake in CocaCola, selling 4,579,564 shares and owning now 2,845,785 shares, a drop of 61.7% from previous holdings.
• Insider Nikolaos Koumettis sold 37,396 shares for over $2.5 million, reducing their total ownership by 15.15%.
• CocaCola recently declared a $0.51 quarterly dividend, representing an annualized yield of 3.0%, with a payout ratio of 72.34%.

Canada Pension Plan Investment Board lessened its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 61.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,845,785 shares of the company's stock after selling 4,579,564 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of CocaCola worth $203,815,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after acquiring an additional 2,072 shares during the last quarter. Renaissance Technologies LLC lifted its position in CocaCola by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock valued at $310,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new stake in CocaCola during the fourth quarter valued at approximately $2,513,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock traded up $0.65 during trading on Monday, hitting $69.01. 14,595,565 shares of the company's stock were exchanged, compared to its average volume of 12,761,812. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The business has a 50-day simple moving average of $69.78 and a 200-day simple moving average of $70.51. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market capitalization of $297.00 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 3.59 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued 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 net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the company posted $0.84 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts forecast that CocaCola Company will post 2.96 EPS 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 issued 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%.

Insider Buying and Selling at CocaCola

In other CocaCola news, 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 value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KO. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. UBS Group decreased their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed 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 price target on shares of CocaCola in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.