KLP Kapitalforvaltning AS Grows Position in CocaCola Company (The) $KO

Key Points

• KLP Kapitalforvaltning AS increased its holdings in CocaCola by 4.3%, owning 1,769,745 shares valued at approximately $126 million, which makes CocaCola the 27th largest holding in its investment portfolio.
• Multiple institutional investors have significantly boosted their stakes in CocaCola, with Wellington Management Group increasing its holdings by 52.7% and Assenagon Asset Management growing its stake by 497.0% in the first quarter.
• Analysts have provided varied price targets for CocaCola, with UBS Group lowering its target from $84 to $80, while JPMorgan Chase raised its target from $77 to $79, reflecting a generally positive outlook on the stock.

KLP Kapitalforvaltning AS lifted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,769,745 shares of the company's stock after purchasing an additional 72,445 shares during the quarter. CocaCola comprises 0.5% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 27th biggest holding. KLP Kapitalforvaltning AS's holdings in CocaCola were worth $125,968,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of CocaCola in the 1st quarter worth about $1,508,657,000. Wellington Management Group LLP lifted its position in CocaCola by 52.7% during 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 acquiring an additional 16,383,870 shares during the period. Boston Partners bought a new stake in CocaCola during the first quarter worth about $642,183,000. Raymond James Financial Inc. grew its holdings in CocaCola by 47.4% in the first 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 period. Finally, Assenagon Asset Management S.A. increased its stake in shares of CocaCola by 497.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock valued at $321,548,000 after purchasing an additional 3,737,646 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KO shares. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Wells Fargo & Company reduced their price objective on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat, CocaCola has an average rating of "Buy" and an average target price of $76.93.

Insider Transactions at CocaCola

In other news, 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 transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company's stock.

CocaCola Stock Performance

Shares of KO opened at $66.09 on Tuesday. The company has a market cap of $284.43 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.47 and a beta of 0.43. The business's fifty day simple moving average is $68.23 and its two-hundred day simple moving average is $69.93. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 posted 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 firm had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

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