Schwerin Boyle Capital Management Inc. Takes $19.09 Million Position in CocaCola Company (The) $KO

Key Points

• Schwerin Boyle Capital Management Inc. acquired a $19.09 million stake in CocaCola, purchasing 266,550 shares, which now represents about 2.0% of its investment portfolio.
• Insider trading activity includes CocaCola's CEO, James Quincey, selling 266,403 shares for approximately $19.2 million, a significant decrease in his ownership.
• CocaCola recently declared a quarterly dividend of $0.51 per share, representing a 2.9% dividend yield and a payout ratio of 72.34%.

Schwerin Boyle Capital Management Inc. bought a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 266,550 shares of the company's stock, valued at approximately $19,090,000. CocaCola makes up about 2.0% of Schwerin Boyle Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position.

Several other large investors also recently bought and sold shares of the stock. New Republic Capital LLC raised its stake in CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC raised its position in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after acquiring an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after acquiring an additional 143 shares in the last quarter. MBA Advisors LLC lifted its stake in CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after purchasing an additional 143 shares during the last quarter. Finally, BXM Wealth LLC boosted its holdings in shares of CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at CocaCola

In related news, CEO James Quincey sold 266,403 shares of the firm'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 transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the business'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 completion of the sale, 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. 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. UBS Group reduced their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $77.21.

CocaCola Stock Down 0.8%

KO stock opened at $70.0840 on Monday. CocaCola Company has a 52-week low of $60.62 and a 52-week 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. The firm has a market capitalization of $301.62 billion, a P/E ratio of 24.85, a P/E/G ratio of 3.65 and a beta of 0.44. The company's 50 day simple moving average is $69.85 and its 200-day simple moving average is $70.45.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS 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 analysts' expectations of $12.55 billion. During the same quarter last year, the firm posted $0.84 earnings per share. CocaCola's 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. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

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.

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