CocaCola Company (The) $KO Shares Acquired by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC increased its stake in CocaCola Company by 41%, acquiring a total of 24,378 shares valued at approximately $1.74 million.
• CocaCola reported a quarterly EPS of $0.87, exceeding analysts' expectations, and had a net margin of 25.89% for the quarter.
• The company recently announced a quarterly dividend of $0.51 per share, representing an annualized yield of 3.1%.

NorthCrest Asset Manangement LLC lifted its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 41.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,378 shares of the company's stock after buying an additional 7,087 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in CocaCola were worth $1,739,000 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. acquired a new position in CocaCola in the 1st quarter valued at about $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the last quarter. Cornerstone Wealth Management LLC increased 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 valued at $8,686,000 after acquiring an additional 3,920 shares during the last quarter. IFM Investors Pty Ltd increased 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 valued at $54,635,000 after acquiring an additional 3,837 shares during the last quarter. Finally, Advisors Capital Management LLC increased its stake in shares of CocaCola by 37.7% during the 1st quarter. Advisors Capital Management LLC now owns 471,034 shares of the company's stock valued at $33,735,000 after acquiring an additional 128,852 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Up 0.1%

Shares of CocaCola stock traded up $0.06 on Friday, hitting $66.52. 31,087,715 shares of the company's stock traded hands, compared to its average volume of 17,067,516. The stock has a market cap of $286.28 billion, a P/E ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm's 50-day moving average is $68.93 and its 200 day moving average is $70.22. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KO. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. BNP Paribas reiterated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. UBS Group decreased their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $76.93.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company'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 transaction of $2,584,063.60. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company's stock.

CocaCola 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.