CocaCola Company (The) $KO Shares Acquired by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its stake in CocaCola Company by 5.6%, owning 99,302 shares valued at approximately $7.11 million as of the last reporting period.
• CocaCola reported earnings per share of $0.87 for the latest quarter, exceeding analysts' expectations of $0.83, while its revenue stood at $12.50 billion, slightly below forecasts.
• The company announced a quarterly dividend of $0.51 per share, with a dividend yield of 2.9%, marking a total annualized dividend of $2.04.

Horizon Investments LLC increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,302 shares of the company's stock after purchasing an additional 5,294 shares during the period. Horizon Investments LLC's holdings in CocaCola were worth $7,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after buying an additional 2,072 shares during the period. Renaissance Technologies LLC lifted its stake in shares of CocaCola by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after buying an additional 1,873 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of CocaCola by 7.4% during the fourth quarter. NewEdge Advisors LLC now owns 275,498 shares of the company's stock worth $17,152,000 after buying an additional 18,984 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of 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. Insiders own 0.90% of the company's stock.

CocaCola Price Performance

KO traded up $0.9750 on Tuesday, reaching $70.1050. 10,430,646 shares of the company's stock were exchanged, compared to its average volume of 16,818,494. The stock has a market cap of $301.71 billion, a PE ratio of 24.86, a P/E/G ratio of 3.64 and a beta of 0.44. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock's fifty day moving average price is $69.97 and its 200-day moving average price is $70.24. 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 posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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 issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

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

CocaCola Company 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.