CocaCola Company (The) $KO Shares Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in CocaCola Company by 8.9% in the first quarter, owning 307,083 shares worth approximately $21.99 million.
• Analysts have set new price targets for CocaCola, with BNP Paribas, JPMorgan Chase, and Royal Bank of Canada giving price objectives between $76.00 and $83.00.
• CocaCola recently announced a quarterly dividend of $0.51 per share, representing an annualized dividend yield of 2.9%.

Northwest & Ethical Investments L.P. increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,083 shares of the company's stock after buying an additional 25,110 shares during the period. Northwest & Ethical Investments L.P.'s holdings in CocaCola were worth $21,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Intrepid Financial Planning Group LLC purchased a new stake in shares of CocaCola in the 1st quarter valued at approximately $226,000. Raymond James Financial Inc. grew its position in shares of CocaCola by 47.4% in 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 last quarter. Menora Mivtachim Holdings LTD. purchased a new position in shares of CocaCola in the 1st quarter valued at $134,126,000. Weik Capital Management boosted its stake in CocaCola by 2.3% during the 1st quarter. Weik Capital Management now owns 62,170 shares of the company's stock worth $4,453,000 after purchasing an additional 1,425 shares during the period. Finally, Gen Wealth Partners Inc boosted its stake in CocaCola by 3.7% during the 1st quarter. Gen Wealth Partners Inc now owns 29,389 shares of the company's stock worth $2,105,000 after purchasing an additional 1,053 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group cut their price target 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. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. raised their target price 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, 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Up 0.7%

KO traded up $0.5090 during trading on Wednesday, hitting $70.6390. The company had a trading volume of 17,527,593 shares, compared to its average volume of 16,861,438. The company has a market cap of $304.01 billion, a PE ratio of 25.05, a P/E/G ratio of 3.60 and a beta of 0.44. The business has a 50-day moving average of $69.92 and a 200-day moving average of $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 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 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 firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm's revenue for the quarter 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 earnings per share for the current 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 paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's payout ratio is presently 72.34%.

Insider Buying and Selling at CocaCola

In other 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is owned by 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.