Candriam S.C.A. Purchases 13,335 Shares of CocaCola Company (The) $KO

Key Points

• Candriam S.C.A. increased its holdings in Coca-Cola by 2.7%, acquiring an additional 13,335 shares, raising its total to 498,338 shares valued at approximately $35.7 million.
• Several institutional investors have recently made significant transactions in Coca-Cola, including Nuveen LLC, which bought a stake worth over $1.5 billion, and Wellington Management, which increased its position by 52.7%.
• The company declared a quarterly dividend of $0.51 per share, with an annualized dividend yield of 2.9%, to be paid on October 1st to shareholders of record on September 15th.

Candriam S.C.A. raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 498,338 shares of the company's stock after purchasing an additional 13,335 shares during the period. Candriam S.C.A.'s holdings in CocaCola were worth $35,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. Nuveen LLC bought a new stake in CocaCola during the 1st quarter valued at $1,508,657,000. Wellington Management Group LLP raised its position in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in CocaCola during the 1st quarter valued at $642,183,000. GAMMA Investing LLC increased 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 acquiring an additional 5,891,034 shares during the period. Finally, Northern Trust Corp increased 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 acquiring an additional 3,811,756 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at CocaCola

In other 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 transaction of $2,584,063.60. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group cut their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Trading Up 1.4%

Shares of CocaCola stock opened at $70.1050 on Wednesday. The firm has a market capitalization of $301.71 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.60 and a beta of 0.44. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. 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 stock has a 50 day moving average of $69.92 and a 200 day moving average of $70.24.

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

CocaCola Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

CocaCola 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.

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