Avanza Fonder AB Purchases 24,952 Shares of CocaCola Company (The) $KO

Key Points

• Avanza Fonder AB increased its stake in CocaCola by 7.0%, owning 383,326 shares valued at approximately $27.12 million, making it the company's 16th largest position in their portfolio.
• CocaCola recently declared a quarterly dividend of $0.51, set to be paid out on October 1st, representing a 3.1% yield based on the current stock price.
• Multiple institutional investors have significantly altered their positions in CocaCola, with 70.26% of the stock now held by institutional investors and hedge funds.

Avanza Fonder AB raised its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,326 shares of the company's stock after buying an additional 24,952 shares during the period. CocaCola comprises approximately 0.8% of Avanza Fonder AB's portfolio, making the stock its 16th largest position. Avanza Fonder AB's holdings in CocaCola were worth $27,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP grew its holdings in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Boston Partners purchased a new position in shares of CocaCola in the first quarter worth $642,183,000. GAMMA Investing LLC increased its stake in shares of CocaCola by 8,419.4% in the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after buying an additional 5,891,034 shares during the period. Finally, Raymond James Financial Inc. boosted its position in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock valued at $848,315,000 after buying an additional 3,810,752 shares during the period. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 0.7%

Shares of NYSE KO traded up $0.44 during trading on Tuesday, reaching $66.65. The company had a trading volume of 8,973,920 shares, compared to its average volume of 16,952,053. The business's 50-day moving average is $68.87 and its 200 day moving average is $70.18. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $286.82 billion, a PE ratio of 23.64, a P/E/G ratio of 3.46 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38.

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

CocaCola Announces Dividend

The firm 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 $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 3.1%. CocaCola's payout ratio is 72.34%.

Insider Transactions 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 transaction of $2,584,063.60. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $76.93.

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.