Mirae Asset Global Investments Co. Ltd. Buys 219,131 Shares of CocaCola Company (The) $KO

Key Points

• Mirae Asset Global Investments increased its stake in CocaCola by 12.3%, owning 1,994,550 shares worth approximately $141 million after acquiring an additional 219,131 shares in the second quarter.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, reducing his ownership by 15.15%.
• CocaCola's recent earnings report showed an EPS of $0.87, beating expectations, while the company also declared a quarterly dividend of $0.51 per share.

Mirae Asset Global Investments Co. Ltd. lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,994,550 shares of the company's stock after purchasing an additional 219,131 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CocaCola were worth $141,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Sage Financial Management Group Inc. bought a new position in CocaCola during the first quarter worth about $216,000. Perigon Wealth Management LLC lifted its holdings in CocaCola by 3.6% during the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after acquiring an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CocaCola by 6.2% during the first 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 acquiring an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in CocaCola by 72.6% during the second quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock worth $14,461,000 after acquiring an additional 85,950 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $66.09 on Friday. The firm has a market cap of $284.44 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43. The stock's 50-day moving average is $68.32 and its 200-day moving average is $69.96. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. 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 (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The company's quarterly 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. Equities analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's dividend payout ratio is 72.34%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. 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. Wells Fargo & Company cut their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Finally, UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.93.

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.

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