Covea Finance Purchases 253,100 Shares of CocaCola Company (The) $KO

Key Points

• Covea Finance has significantly increased its stake in CocaCola by 335.2% during the second quarter, acquiring 253,100 shares, bringing its total holdings to 328,600 shares valued at approximately $23.25 million.
• CocaCola's quarterly earnings surpassed analysts' expectations, reporting earnings per share of $0.87 against a consensus estimate of $0.83, while revenue reached $12.50 billion, slightly below estimates.
• The company declared a quarterly dividend of $0.51 per share, with an ex-dividend date set for September 15th, representing an annualized yield of 3.1% for shareholders.

Covea Finance grew its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 335.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,600 shares of the company's stock after purchasing an additional 253,100 shares during the quarter. Covea Finance's holdings in CocaCola were worth $23,248,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola in the first quarter valued at about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. grew its stake in shares of 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 acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC grew its stake in shares of 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 acquiring an additional 285 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at CocaCola

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 completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company's stock.

CocaCola Trading Down 0.2%

KO opened at $66.27 on Tuesday. The company's 50 day moving average is $68.87 and its 200-day moving average is $70.18. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a market cap of $285.20 billion, a P/E ratio of 23.50, a PEG ratio of 3.46 and a beta of 0.43.

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, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion for 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 firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

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.

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