Mattson Financial Services LLC Buys 5,164 Shares of CocaCola Company (The) $KO

Key Points

• Mattson Financial Services LLC increased its stake in CocaCola by 12.5% during the first quarter, holding 46,373 shares valued at $3.32 million.
• Several hedge funds also adjusted their positions, with Wellington Management Group increasing their stake by 52.7%, and Vanguard Group growing its position by 0.3%.
• Analysts give CocaCola a consensus rating of "Buy," with target prices ranging from $76.00 to $83.00, indicating optimistic growth prospects for the stock.

Mattson Financial Services LLC increased its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,373 shares of the company's stock after purchasing an additional 5,164 shares during the period. Mattson Financial Services LLC's holdings in CocaCola were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola during the 1st quarter worth about $216,000. Cornerstone Wealth Management LLC boosted its stake in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after buying an additional 1,794,561 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of CocaCola by 0.5% during the 1st quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company's stock worth $54,635,000 after buying an additional 3,837 shares during the last quarter. Finally, Fosun International Ltd acquired a new position in shares of CocaCola during the 1st quarter worth about $216,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KO shares. UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to MarketBeat, CocaCola presently has a consensus rating of "Buy" and an average target price of $76.93.

CocaCola Stock Performance

CocaCola stock traded down $0.62 during trading hours on Friday, hitting $67.00. The company had a trading volume of 18,684,181 shares, compared to its average volume of 15,985,507. The firm has a market cap of $288.35 billion, a PE ratio of 23.76, a PEG ratio of 3.52 and a beta of 0.43. 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 one year low of $60.62 and a one year high of $74.38. The firm has a 50-day moving average of $69.29 and a 200 day moving average of $70.37.

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, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued 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 dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

About CocaCola

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.