CocaCola Company (The) $KO Shares Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA increased its CocaCola shares by 72.6% in Q2, acquiring an additional 85,950 shares, raising its total holding to 204,392 shares valued at approximately $14.46 million.
• CocaCola's latest earnings report showed an EPS of $0.87, exceeding expectations of $0.83, with a revenue of $12.50 billion for the quarter.
• The company has declared a quarterly dividend of $0.51 per share, which will be paid on October 1, representing an annualized dividend yield of 3.1%.

Banque Pictet & Cie SA raised its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 72.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,392 shares of the company's stock after acquiring an additional 85,950 shares during the period. Banque Pictet & Cie SA's holdings in CocaCola were worth $14,461,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KO. Nuveen LLC acquired a new stake in CocaCola during the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% in 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 buying an additional 16,383,870 shares during the period. Boston Partners purchased a new stake in shares of CocaCola in the first quarter worth about $642,183,000. GAMMA Investing LLC grew its holdings in CocaCola by 8,419.4% during the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after acquiring an additional 5,891,034 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after acquiring an additional 3,810,752 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company's stock.

CocaCola Price Performance

Shares of CocaCola stock opened at $66.00 on Friday. The stock has a market capitalization of $284.06 billion, a P/E ratio of 23.41, a PEG ratio of 3.46 and a beta of 0.43. The business has a 50 day simple moving average of $68.67 and a two-hundred day simple moving average of $70.09. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO - Get Free Report) last announced 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 company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The firm'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. As a group, analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's payout ratio is presently 72.34%.

Analyst Ratings Changes

A number of brokerages have issued reports on KO. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Wells Fargo & Company decreased their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday. 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. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, CocaCola presently has an average rating of "Buy" and an average target price of $76.93.

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.

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