Norinchukin Bank The Acquires 30,666 Shares of CocaCola Company (The) $KO

Key Points

• Norinchukin Bank has increased its stake in Coca-Cola Company by 15.6%, acquiring an additional 30,666 shares, bringing its total holdings to 226,764 shares valued at approximately $16.24 million.
• Coca-Cola reported $0.87 earnings per share for the last quarter, exceeding analyst estimates of $0.83, while revenue rose by 2.5% year-over-year to $12.50 billion.
• The company has declared a quarterly dividend of $0.51, providing an annualized yield of 2.9% and a dividend payout ratio of 72.34%.

Norinchukin Bank The grew its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,764 shares of the company's stock after buying an additional 30,666 shares during the quarter. Norinchukin Bank The's holdings in CocaCola were worth $16,241,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the first quarter valued at about $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its stake in 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 buying an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares during the period. Finally, REAP Financial Group LLC boosted its position in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Performance

NYSE:KO opened at $70.6390 on Thursday. The stock has a 50-day moving average price of $69.90 and a 200 day moving average price of $70.24. 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 Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $304.01 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.65 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. CocaCola's revenue for the quarter was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 2.9%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KO. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. raised their price objective 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. UBS Group dropped their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. 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. Finally, BNP Paribas reiterated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note 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 issued a Hold rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $77.21.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was 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 in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction 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 transaction, the insider 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 disclosure for this sale can be found here. 0.97% of the stock is currently owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.