Martingale Asset Management L P Has $9.10 Million Position in CocaCola Company (The) $KO

Key Points

• Martingale Asset Management L P has reduced its stake in Coca-Cola by 17.6%, owning approximately $9.1 million worth of shares after selling over 27,000 shares in the first quarter.
• Coca-Cola's quarterly earnings report showed earnings per share of $0.87, exceeding the consensus estimate, with revenue reaching $12.50 billion.
• The company recently announced a quarterly dividend of $0.51 per share, reflecting an annual yield of 2.9% and a payout ratio of 72.34%.

Martingale Asset Management L P lowered its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 17.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,998 shares of the company's stock after selling 27,151 shares during the period. Martingale Asset Management L P's holdings in CocaCola were worth $9,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Wellington Management Group LLP grew its holdings in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Northern Trust Corp grew its holdings in CocaCola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Nuveen LLC acquired a new stake in CocaCola during the 1st quarter worth $1,508,657,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in CocaCola by 5.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company's stock worth $1,155,499,000 after acquiring an additional 866,773 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. 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. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Two research 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $77.21.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business'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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.97% of the company's stock.

CocaCola Trading Down 0.1%

KO opened at $70.6030 on Friday. The stock has a market capitalization of $303.85 billion, a P/E ratio of 25.04, a P/E/G ratio of 3.68 and a beta of 0.44. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm's fifty day simple moving average is $69.86 and its 200 day simple moving average is $70.29. 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 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 net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion for the quarter, compared to analysts' expectations 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, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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 given a dividend of $0.51 per share. 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 payout ratio is 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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