SCS Capital Management LLC Acquires New Position in CocaCola Company (The) $KO

Key Points

• SCS Capital Management LLC has acquired a new stake in the CocaCola Company, purchasing 210,744 shares valued at approximately $15.18 million.
• Several other institutional investors have also increased their positions in CocaCola, with Lighthouse Investment Partners LLC notably raising its stake by 552.8%.
• CocaCola announced a quarterly dividend of $0.51, which will be paid on October 1st, representing an annualized yield of 3.0%.

SCS Capital Management LLC acquired a new position in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 210,744 shares of the company's stock, valued at approximately $15,177,000.

A number of other large investors have also modified their holdings of the stock. Sage Financial Management Group Inc. purchased a new position in CocaCola in the first quarter valued at $216,000. Cornerstone Wealth Management LLC increased its holdings in CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after buying an additional 3,920 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CocaCola by 6.2% in the first 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 buying an additional 1,794,561 shares during the last quarter. Fosun International Ltd purchased a new position in CocaCola in the first quarter valued at $216,000. Finally, Investors Research Corp increased its holdings in CocaCola by 21.5% in the first quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after buying an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

NYSE KO traded down $0.62 during trading hours on Friday, hitting $67.00. The company had a trading volume of 18,652,263 shares, compared to its average volume of 16,895,297. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $288.35 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43. The business has a 50 day moving average of $69.38 and a 200-day moving average of $70.40.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the firm posted $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. As a group, equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction 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 trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

CocaCola Company 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.