Comerica Bank Has $104.58 Million Stock Holdings in CocaCola Company (The) $KO

Key Points

• Comerica Bank reduced its holdings in CocaCola Company by 0.9%, selling 13,877 shares in the first quarter, leaving them with approximately 1.46 million shares valued at $104.58 million.
• Insider selling activity included major transactions by CEO James Quincey and insider Nikolaos Koumettis, with Quincey selling 266,403 shares and Koumettis selling 37,396 shares.
• The quarterly dividend of $0.51 per share will be paid on October 1st, representing an annualized yield of 2.9% and a payout ratio of 72.34%.

Comerica Bank decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,460,169 shares of the company's stock after selling 13,877 shares during the period. Comerica Bank's holdings in CocaCola were worth $104,577,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after buying an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP grew its position in 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 acquiring an additional 16,383,870 shares in the last quarter. Northern Trust Corp raised its holdings in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the last quarter. Nuveen LLC purchased a new stake in CocaCola in the first quarter worth $1,508,657,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CocaCola by 5.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company's stock valued at $1,155,499,000 after buying an additional 866,773 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KO shares. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. 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 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. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Two investment 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 stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $77.21.

CocaCola Stock Performance

Shares of NYSE:KO traded up $0.55 during trading on Friday, hitting $68.91. 5,911,160 shares of the stock were exchanged, compared to its average volume of 16,678,648. The company has a market capitalization of $296.54 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.58 and a beta of 0.44. The company's fifty day simple moving average is $69.78 and its 200-day simple moving average is $70.48. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion during 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company 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 fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.51 dividend. 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 (DPR) is currently 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred on 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.97% of the company's stock.

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.