CocaCola Company (The) $KO Shares Acquired by Edgar Lomax Co. VA

Key Points

• Edgar Lomax Co. VA increased its stake in Coca-Cola by 9.2% in the 1st quarter, acquiring an additional 81,410 shares for a total of 965,560 shares, valued at approximately $69.15 million.
• Institutional investors own 70.26% of Coca-Cola stock, with several hedge funds recently buying shares, including Sage Financial Management and Voleon Capital Management.
• Coca-Cola announced a quarterly dividend of $0.51 per share, payable on October 1st, representing an annualized yield of 2.9%.

Edgar Lomax Co. VA boosted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 9.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 965,560 shares of the company's stock after buying an additional 81,410 shares during the quarter. CocaCola makes up about 4.3% of Edgar Lomax Co. VA's holdings, making the stock its 4th biggest position. Edgar Lomax Co. VA's holdings in CocaCola were worth $69,153,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sage Financial Management Group Inc. purchased a new stake in CocaCola in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new position in shares of CocaCola during the 4th quarter worth $2,513,000. Cornerstone Wealth Management LLC lifted its stake in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the period. Clark Capital Management Group Inc. lifted its stake in shares of CocaCola by 31.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after purchasing an additional 204,681 shares during the period. Finally, Investors Research Corp lifted its stake in shares of CocaCola by 21.5% during the 1st quarter. Investors Research Corp now owns 10,419 shares of the company's stock worth $746,000 after purchasing an additional 1,846 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 0.7%

Shares of KO stock traded up $0.5090 on Wednesday, reaching $70.6390. 17,527,593 shares of the stock were exchanged, compared to its average volume of 13,082,515. The stock has a market cap of $304.01 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.65 and a beta of 0.44. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $69.90 and a two-hundred day moving average of $70.24. 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 quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the company posted $0.84 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group reduced their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $77.21.

Insider Activity

In other CocaCola news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 completion of the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.