Northwestern Mutual Wealth Management Co. Buys 32,135 Shares of CocaCola Company (The) $KO

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in CocaCola by 4.1%, owning 806,548 shares valued at approximately $57.77 million.
• CEO James Quincey sold 266,403 shares worth about $19.2 million, representing a 49.12% decrease in his holdings.
• Equities analysts have varying price targets for CocaCola, with the consensus target set at $77.21, while the stock is currently trading around $70.08.

Northwestern Mutual Wealth Management Co. grew its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 806,548 shares of the company's stock after acquiring an additional 32,135 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in CocaCola were worth $57,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new position in CocaCola in the first quarter valued at about $25,000. Garde Capital Inc. acquired a new position in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its stake in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its stake in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC raised its stake in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 transaction, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred 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 in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Trading Down 0.6%

NYSE:KO traded down $0.44 on Thursday, reaching $68.39. 15,782,321 shares of the stock traded hands, compared to its average volume of 16,692,416. The firm has a market capitalization of $294.34 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44. The company's 50 day moving average is $69.79 and its 200-day moving average is $70.46. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KO shares. UBS Group lowered their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, CocaCola currently has an average rating of "Buy" and an average price target of $77.21.

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.