Strs Ohio Buys Shares of 1,201,521 CocaCola Company (The) $KO

Key Points

• Strs Ohio recently acquired a stake valued at approximately $86.05 million in CocaCola Company, comprising 1,201,521 shares during the first quarter.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, representing a 15.15% decrease in their ownership position.
• CocaCola announced a quarterly dividend of $0.51, with an annualized yield of 3.0%, set to be paid on October 1st to shareholders on record as of September 15th.

Strs Ohio acquired a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 1,201,521 shares of the company's stock, valued at approximately $86,053,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. New Republic Capital LLC boosted its position in shares of CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC boosted its position in shares of 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 buying an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares in the last quarter. MBA Advisors LLC lifted its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares in the last quarter. Finally, BXM Wealth LLC lifted its holdings in 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 purchasing an additional 144 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Down 0.9%

Shares of KO stock traded down $0.62 during mid-day trading on Friday, reaching $67.00. 18,684,181 shares of the company were exchanged, compared to its average volume of 15,985,507. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The company has a market capitalization of $288.35 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.52 and a beta of 0.43. The business's 50 day simple moving average is $69.29 and its 200 day simple moving average is $70.37.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter last year, the company earned $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. Research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction on 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 $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 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 report on Monday, July 21st. JPMorgan Chase & Co. upped their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. BNP Paribas reiterated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.