Clark Capital Management Group Inc. Increases Position in CocaCola Company (The) $KO

Key Points

• Clark Capital Management Group Inc. increased its holdings in CocaCola Company by 89.3% in Q1, acquiring an additional 758,446 shares to reach a total of 1,607,314 shares, valued at $115.12 million.
• Institutional investors own 70.26% of CocaCola's stock, with significant increases in holdings reported by firms such as Wellington Management Group, which grew its position by 52.7%.
• CocaCola announced a quarterly dividend of $0.51 to be paid on October 1st, representing an annualized dividend yield of 3.0%.

Clark Capital Management Group Inc. raised its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 89.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,314 shares of the company's stock after buying an additional 758,446 shares during the quarter. CocaCola comprises approximately 0.8% of Clark Capital Management Group Inc.'s holdings, making the stock its 25th largest position. Clark Capital Management Group Inc.'s holdings in CocaCola were worth $115,116,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. Sage Financial Management Group Inc. purchased a new position in CocaCola during the 1st quarter valued at approximately $216,000. Cornerstone Wealth Management LLC grew its holdings in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after buying an additional 3,920 shares in the last quarter. Fosun International Ltd purchased a new position in CocaCola during the 1st quarter valued at approximately $216,000. Investors Research Corp grew its holdings in CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after buying an additional 1,846 shares in the last quarter. Finally, Berkshire Bank purchased a new position in shares of CocaCola in the 1st quarter worth approximately $210,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Down 0.4%

Shares of KO stock traded down $0.31 on Friday, reaching $67.95. 23,968,643 shares of the company's stock were exchanged, compared to its average volume of 14,052,755. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. 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 stock has a market capitalization of $292.41 billion, a PE ratio of 24.09, a P/E/G ratio of 3.54 and a beta of 0.43. The company's fifty day simple moving average is $69.65 and its 200 day simple moving average is $70.48.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the company earned $0.84 EPS. CocaCola's quarterly 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. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. 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 72.34%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other CocaCola news, 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 completion of the sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.

About CocaCola

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.