Shell Asset Management Co. Purchases 46,025 Shares of CocaCola Company (The) $KO

Key Points

• Shell Asset Management Co. increased its stake in CocaCola by 76.7%, acquiring 46,025 additional shares to reach a total of 106,020 shares valued at approximately $7.5 million.
• CocaCola's quarterly earnings on July 22 included an EPS of $0.87, exceeding estimates, with a revenue of $12.50 billion.
• The company announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.1%, with a payout ratio of 72.34%.

Shell Asset Management Co. boosted its position in CocaCola Company (The) (NYSE:KO - Free Report) by 76.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,020 shares of the company's stock after acquiring an additional 46,025 shares during the period. Shell Asset Management Co.'s holdings in CocaCola were worth $7,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Republic Capital LLC boosted its stake in shares of CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after acquiring an additional 139 shares during the period. Alteri Wealth LLC lifted its holdings in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after purchasing an additional 140 shares in the last quarter. Requisite Capital Management LLC boosted its stake in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company's stock worth $377,000 after purchasing an additional 142 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in 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 buying an additional 143 shares in the last quarter. Finally, MBA Advisors LLC raised its position in shares of CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after buying an additional 143 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Price Performance

CocaCola stock opened at $66.09 on Tuesday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 firm has a 50-day moving average price of $68.23 and a 200-day moving average price of $69.93. The firm has a market capitalization of $284.43 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.CocaCola's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's payout ratio is 72.34%.

Insider Buying and Selling at CocaCola

In other 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 transaction, the insider 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. BNP Paribas restated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.93.

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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