Erste Asset Management GmbH Buys 122,120 Shares of CocaCola Company (The) $KO

Key Points

• Erste Asset Management GmbH significantly increased its stake in CocaCola, acquiring 122,120 additional shares and raising its total ownership by 117.1% to 226,433 shares, valued at approximately $15.99 million.
• Recent trading activity includes insider sales by CEO James Quincey and another executive, totaling substantial share divestments, indicating potential shifts in insider sentiment.
• Wall Street analysts retain a positive outlook on CocaCola, with the stock having a consensus rating of Buy and a consensus price target of $77.21 after recent updates from various investment banks.

Erste Asset Management GmbH grew its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 117.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226,433 shares of the company's stock after acquiring an additional 122,120 shares during the period. Erste Asset Management GmbH's holdings in CocaCola were worth $15,986,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

KO has been the topic of a number of recent research reports. UBS Group dropped their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Two equities research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $77.21.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated 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. 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. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

CocaCola Trading Up 1.4%

Shares of CocaCola stock opened at $70.1050 on Wednesday. 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. The firm has a market cap of $301.71 billion, a PE ratio of 24.86, a PEG ratio of 3.60 and a beta of 0.44. The company has a 50 day simple moving average of $69.92 and a two-hundred day simple moving average of $70.24.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter last year, the company posted $0.84 EPS. The business's quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

CocaCola Company 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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