Raymond James Financial Inc. Acquires 3,810,752 Shares of CocaCola Company (The) $KO

Key Points

• Raymond James Financial Inc. increased its stake in CocaCola by 47.4%, owning approximately 11.8 million shares worth about $848.3 million after purchasing additional shares in the first quarter.
• CocaCola stock is currently rated as a "Buy" by market analysts, with a consensus price target of $77.21, reflecting a mix of buy and outperform ratings from various research firms.
• The company reported $0.87 earnings per share for the last quarter, exceeding expectations, while also announcing a quarterly dividend of $0.51 per share to be paid out on October 1st.

Raymond James Financial Inc. increased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 47.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,844,673 shares of the company's stock after acquiring an additional 3,810,752 shares during the period. Raymond James Financial Inc. owned about 0.28% of CocaCola worth $848,315,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KO. Menora Mivtachim Holdings LTD. acquired a new stake in shares of CocaCola during the first quarter valued at about $134,126,000. Weik Capital Management boosted its position in CocaCola by 2.3% during the 1st quarter. Weik Capital Management now owns 62,170 shares of the company's stock worth $4,453,000 after buying an additional 1,425 shares during the period. Gen Wealth Partners Inc boosted its position in CocaCola by 3.7% during the 1st quarter. Gen Wealth Partners Inc now owns 29,389 shares of the company's stock worth $2,105,000 after buying an additional 1,053 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in CocaCola by 2.8% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 23,890 shares of the company's stock worth $1,711,000 after acquiring an additional 656 shares during the last quarter. Finally, Ethic Inc. increased its position in CocaCola by 12.5% in the 1st quarter. Ethic Inc. now owns 61,872 shares of the company's stock valued at $4,447,000 after acquiring an additional 6,853 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KO shares. BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. UBS Group reduced their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CocaCola presently has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola Stock Up 1.4%

CocaCola stock traded up $0.9750 during midday trading on Tuesday, reaching $70.1050. The stock had a trading volume of 13,292,350 shares, compared to its average volume of 13,506,400. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average price of $69.97 and a two-hundred day moving average price of $70.24. The company has a market capitalization of $301.71 billion, a P/E ratio of 24.86, a PEG ratio of 3.60 and a beta of 0.44. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

CocaCola Announces Dividend

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

Insider Buying and Selling

In other 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 value 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 $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company'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 transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% 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.