CocaCola Company (The) $KO Position Raised by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC has significantly increased its stock ownership in Coca-Cola by 125.3%, amassing a total of 23,877 shares valued at approximately $1.71 million.
• Several other institutional investors, including Mizuho Securities and Moser Wealth Advisors, also raised their stakes in Coca-Cola, contributing to a total institutional ownership of 70.26%.
• Coca-Cola reported Q2 earnings of $0.87 per share, surpassing analyst expectations, and announced a quarterly dividend of $0.51, with a yield of 2.9% expected to be distributed on October 1st.

ICONIQ Capital LLC boosted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 125.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 23,877 shares of the company's stock after buying an additional 13,280 shares during the period. ICONIQ Capital LLC's holdings in CocaCola were worth $1,710,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC raised its stake in shares of CocaCola by 53.7% during the first quarter. Campbell & CO Investment Adviser LLC now owns 44,368 shares of the company's stock valued at $3,178,000 after purchasing an additional 15,492 shares during the period. Southeast Asset Advisors LLC raised its stake in shares of CocaCola by 0.3% during the first quarter. Southeast Asset Advisors LLC now owns 325,465 shares of the company's stock valued at $23,310,000 after purchasing an additional 1,000 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of CocaCola by 10.6% during the first quarter. Smartleaf Asset Management LLC now owns 42,489 shares of the company's stock valued at $2,990,000 after purchasing an additional 4,078 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of CocaCola by 2.0% during the first quarter. Bahl & Gaynor Inc. now owns 1,609,189 shares of the company's stock valued at $115,250,000 after purchasing an additional 32,171 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of CocaCola by 4.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 806,548 shares of the company's stock valued at $57,765,000 after purchasing an additional 32,135 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Down 0.2%

Shares of KO stock traded down $0.12 during mid-day trading on Tuesday, reaching $68.81. 17,947,439 shares of the company were exchanged, compared to its average volume of 12,743,540. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two 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 $296.12 billion, a P/E ratio of 24.40, a P/E/G ratio of 3.59 and a beta of 0.44. The business's 50 day simple moving average is $69.80 and its 200 day simple moving average is $70.47.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during 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 business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is currently 72.34%.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted 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. 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. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $77.21.

Insiders Place Their Bets

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm'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 owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

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.