SteelPeak Wealth LLC Boosts Stake in CocaCola Company (The) $KO

Key Points

• SteelPeak Wealth LLC has increased its stake in Coca-Cola Company by 60.3%, owning 154,895 shares worth approximately $11 million after acquiring an additional 58,253 shares.
• Coca-Cola's quarterly earnings exceeded expectations, reporting $0.87 per share, beating the consensus estimate of $0.83, while its revenue grew by 2.5% year-over-year.
• The company recently declared a quarterly dividend of $0.51 per share, representing an annualized dividend yield of 3.1%.

SteelPeak Wealth LLC lifted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 60.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,895 shares of the company's stock after purchasing an additional 58,253 shares during the period. SteelPeak Wealth LLC's holdings in CocaCola were worth $11,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Financial Management Group Inc. purchased a new stake in shares of CocaCola in the 1st quarter worth $216,000. Perigon Wealth Management LLC increased its stake in CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock worth $9,209,000 after buying an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its stake in CocaCola by 72.6% in the 2nd quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company's stock worth $14,461,000 after buying an additional 85,950 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Trading Down 0.8%

Shares of CocaCola stock opened at $66.09 on Tuesday. The firm has a market cap of $284.43 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.47 and a beta of 0.43. The business has a 50-day moving average price of $68.23 and a 200-day moving average price of $69.93. 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 Company has a twelve month low of $60.62 and a twelve 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business posted $0.84 earnings per share. The business's quarterly 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. Equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated Tuesday, August 5th. The shares were 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 owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Saturday, September 27th. Wells Fargo & Company cut their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, CocaCola presently has a consensus rating of "Buy" and an average target price of $76.93.

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.

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