7,200 Shares in CocaCola Company (The) $KO Acquired by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC acquired 7,200 shares of CocaCola Company, with a total value of approximately $516,000, indicating strong institutional interest in the company.
• Several other hedge funds made significant moves in CocaCola's stock, with Nuveen LLC purchasing a stake worth over $1.5 billion during the same quarter.
• CocaCola announced a quarterly dividend of $0.51 per share, reflecting a dividend yield of 3.0% amidst positive earnings reports.

Redwood Investment Management LLC bought a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,200 shares of the company's stock, valued at approximately $516,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares in the last quarter. Renaissance Technologies LLC raised its holdings in CocaCola by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after buying an additional 1,873 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in CocaCola during the fourth quarter worth $417,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated 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 owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

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

CocaCola Trading Up 1.0%

KO traded up $0.65 during trading on Friday, reaching $69.01. The company had a trading volume of 14,595,565 shares, compared to its average volume of 12,837,132. The stock has a market cap of $297.00 billion, a P/E ratio of 24.47, a PEG ratio of 3.56 and a beta of 0.44. The business has a 50 day simple moving average of $69.78 and a 200-day simple moving average of $70.49. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. 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 released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the company earned $0.84 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is 72.34%.

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.