Fifth Third Bancorp Grows Stock Holdings in CocaCola Company (The) $KO

Key Points

• Fifth Third Bancorp increased its holdings in CocaCola Company by 3.0%, owning a total of 1,701,701 shares worth approximately $120 million.
• CocaCola reported $0.87 earnings per share for the last quarter, surpassing analysts' expectations of $0.83, while revenue was up 2.5% year-over-year.
• The company announced a quarterly dividend of $0.51, set to be paid on October 1st, with a yield of 3.1%.

Fifth Third Bancorp boosted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,701,701 shares of the company's stock after buying an additional 49,218 shares during the period. Fifth Third Bancorp's holdings in CocaCola were worth $120,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. New Republic Capital LLC grew its stake in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC grew its stake in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after buying an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after buying an additional 143 shares in the last quarter. MBA Advisors LLC grew its stake in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after buying an additional 143 shares in the last quarter. Finally, BXM Wealth LLC grew its position in shares of CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after purchasing an additional 144 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Performance

NYSE KO opened at $66.71 on Wednesday. CocaCola Company has a 52-week low of $60.62 and a 52-week 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. The company has a market capitalization of $287.08 billion, a P/E ratio of 23.66, a P/E/G ratio of 3.45 and a beta of 0.43. The company has a fifty day moving average of $68.81 and a 200-day moving average of $70.15.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the firm posted $0.84 EPS. 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. As a group, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid 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 3.1%. CocaCola's payout ratio is currently 72.34%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on 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 sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

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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