Menora Mivtachim Holdings LTD. Invests $134.13 Million in CocaCola Company (The) $KO

Key Points

• Menora Mivtachim Holdings LTD. acquired approximately 1,872,750 shares of CocaCola Company, valued at around $134 million, during the 1st quarter of the year.
• Recent analyst reports indicate that CocaCola's stock has an average rating of "Buy" with a consensus price target of $77.21, reflecting positive market sentiment.
• CocaCola announced a quarterly dividend of $0.51, with the payment scheduled for October 1st, representing an annualized yield of 2.9%.

Menora Mivtachim Holdings LTD. purchased a new position in CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,872,750 shares of the company's stock, valued at approximately $134,126,000.

Other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $25,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its stake in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Ridgewood Investments LLC raised its stake in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in shares of CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of CocaCola stock traded up $0.5090 on Wednesday, reaching $70.6390. The company's stock had a trading volume of 11,955,337 shares, compared to its average volume of 16,826,482. The company has a market capitalization of $304.01 billion, a P/E ratio of 25.05, a PEG ratio of 3.60 and a beta of 0.44. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a 50-day moving average price of $69.92 and a 200-day moving average price of $70.24. The company has a quick ratio of 0.98, a current ratio of 1.21 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 analysts' consensus estimates of $0.83 by $0.04. The business 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 business's revenue was up 2.5% compared to the same quarter last year. During the same period 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. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. CocaCola's payout ratio is 72.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KO shares. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. UBS Group reduced their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $77.21.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 275,946 shares of the company's stock, 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. 0.90% of the stock is owned by insiders.

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.