Strs Ohio Cuts Position in CocaCola Company (The) $KO

Key Points

• Strs Ohio reduced its Coca-Cola holdings by 4.3% in the first quarter, selling 51,364 shares and leaving it with 1,130,041 shares worth about $85.94 million.
• Several other institutional investors also adjusted their KO positions, and the stock remains heavily owned by institutions and hedge funds at 70.26%.
• Wall Street sentiment is still bullish: analysts have a Moderate Buy consensus on Coca-Cola, with a target price of $86.88, while the company also reported better-than-expected quarterly earnings and maintained a quarterly dividend of $0.53 per share.

Strs Ohio decreased its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,130,041 shares of the company's stock after selling 51,364 shares during the quarter. Strs Ohio's holdings in CocaCola were worth $85,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Norges Bank acquired a new stake in CocaCola in the 4th quarter valued at $3,865,807,000. Cardano Risk Management B.V. lifted its holdings in CocaCola by 867.2% during the fourth quarter. Cardano Risk Management B.V. now owns 14,432,190 shares of the company's stock valued at $1,008,954,000 after purchasing an additional 12,939,959 shares in the last quarter. Marshall Wace LLP grew its position in shares of CocaCola by 1,206.9% in the fourth quarter. Marshall Wace LLP now owns 10,641,007 shares of the company's stock valued at $743,913,000 after purchasing an additional 9,826,768 shares during the period. Bank of America Corp DE increased its stake in shares of CocaCola by 29.2% during the fourth quarter. Bank of America Corp DE now owns 40,182,323 shares of the company's stock worth $2,809,146,000 after purchasing an additional 9,078,447 shares in the last quarter. Finally, Capital World Investors raised its position in shares of CocaCola by 98.7% during the 4th quarter. Capital World Investors now owns 12,573,527 shares of the company's stock worth $879,015,000 after purchasing an additional 6,246,627 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nancy Quan sold 31,625 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $80.93, for a total value of $2,559,411.25. Following the completion of the sale, the executive vice president owned 223,330 shares of the company's stock, valued at approximately $18,074,096.90. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jennifer K. Mann sold 100,000 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $79.46, for a total transaction of $7,946,000.00. Following the sale, the executive vice president owned 181,384 shares of the company's stock, valued at approximately $14,412,772.64. The trade was a 35.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 899,905 shares of company stock valued at $71,832,315. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on CocaCola from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Barclays lifted their price target on CocaCola from $85.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Truist Financial set a $88.00 price objective on CocaCola in a report on Friday, June 26th. Weiss Ratings raised shares of CocaCola from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, May 4th. Finally, Piper Sandler reissued an "overweight" rating on shares of CocaCola in a research note on Friday, June 26th. Fifteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.88.

More CocaCola News

Here are the key news stories impacting CocaCola this week:

• Positive Sentiment: Coca-Cola announced a global beverage agreement with Marriott International, making KO the worldwide beverage supplier across Marriott’s hotel portfolio and expanding access to a large travel and hospitality channel. Article Title
• Positive Sentiment: Investor commentary and stock-screening coverage continue to frame Coca-Cola as an attractive dividend and blue-chip holding, citing improving revenue and profitability trends ahead of earnings. Article Title
• Positive Sentiment: Market coverage singled out KO among five blue-chip stocks with potential second-half momentum, adding to bullish sentiment around the shares. Article Title
• Neutral Sentiment: Search and analyst-interest pieces noted that investors have been paying closer attention to Coca-Cola, but these articles were more about visibility than a specific new catalyst. Article Title

CocaCola Price Performance

NYSE:KO opened at $83.93 on Friday. CocaCola Company has a one year low of $65.35 and a one year high of $84.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.36. The stock has a market cap of $361.11 billion, a PE ratio of 26.39, a P/E/G ratio of 3.25 and a beta of 0.34. The stock has a 50 day moving average price of $79.99 and a 200 day moving average price of $76.67.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.24 billion. CocaCola had a return on equity of 40.55% and a net margin of 27.80%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. Equities research analysts expect that CocaCola Company will post 3.26 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. CocaCola's payout ratio is currently 66.67%.

About CocaCola

The Coca‑Cola Company NYSE: KO is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

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