Cullinan Associates Inc. Has $97.46 Million Stock Holdings in CocaCola Company (The) $KO

Key Points

• Cullinan Associates Inc. has increased its holdings in Coca-Cola by 1.1%, now owning 1,377,472 shares valued at approximately $97.46 million, making it the firm's second largest position.
• Recent hedge fund activity revealed that Nuveen LLC acquired a stake worth $1.51 billion in Coca-Cola, while other firms like Wellington Management increased their positions significantly as well.
• Coca-Cola's quarterly earnings surpassed expectations, reporting $0.87 EPS against an anticipated $0.83, while also announcing a quarterly dividend of $0.51 per share.

Cullinan Associates Inc. increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,377,472 shares of the company's stock after acquiring an additional 15,409 shares during the period. CocaCola comprises about 6.4% of Cullinan Associates Inc.'s investment portfolio, making the stock its 2nd biggest position. Cullinan Associates Inc.'s holdings in CocaCola were worth $97,456,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KO. Nuveen LLC bought a new stake in CocaCola in the first quarter valued at $1,508,657,000. Wellington Management Group LLP boosted its stake in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in shares of CocaCola in the 1st quarter worth about $642,183,000. Raymond James Financial Inc. grew its holdings 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 worth $848,315,000 after purchasing an additional 3,810,752 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of CocaCola by 497.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock worth $321,548,000 after purchasing an additional 3,737,646 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $76.93.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's 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 of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company's stock.

CocaCola Price Performance

KO stock opened at $66.65 on Monday. The stock has a 50-day moving average price of $68.27 and a two-hundred day moving average price of $69.95. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market cap of $286.86 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. 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 (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CocaCola Company (The) (NYSE:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.