CocaCola Company (The) $KO Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coca-Cola by 5.4%, acquiring an additional 40,030 shares, bringing its total holdings to 783,488 shares valued at approximately $55.4 million.
• Coca-Cola reported earnings of $0.87 per share for the most recent quarter, surpassing analyst estimates, with quarterly revenues of $12.50 billion.
• The company declared a quarterly dividend of $0.51 per share, with a dividend yield of 3.0%, to be paid on October 1st to stockholders of record on September 15th.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 783,488 shares of the company's stock after acquiring an additional 40,030 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in CocaCola were worth $55,432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Signal Advisors Wealth LLC grew its stake in CocaCola by 15.1% in the 2nd quarter. Signal Advisors Wealth LLC now owns 6,352 shares of the company's stock valued at $449,000 after acquiring an additional 834 shares during the period. Focus Financial Network Inc. boosted its stake in CocaCola by 1.1% during the 2nd quarter. Focus Financial Network Inc. now owns 27,383 shares of the company's stock worth $1,951,000 after purchasing an additional 286 shares during the last quarter. Sovran Advisors LLC boosted its stake in CocaCola by 3.1% during the 2nd quarter. Sovran Advisors LLC now owns 20,132 shares of the company's stock worth $1,414,000 after purchasing an additional 597 shares during the last quarter. Financial Management Network Inc. acquired a new stake in CocaCola during the 2nd quarter worth $218,000. Finally, Intelligence Driven Advisers LLC boosted its stake in CocaCola by 6.3% during the 2nd quarter. Intelligence Driven Advisers LLC now owns 3,684 shares of the company's stock worth $261,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

KO has been the topic of several recent research reports. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

CocaCola Trading Up 0.1%

NYSE KO traded up $0.06 during trading hours on Friday, reaching $66.52. The company had a trading volume of 31,087,715 shares, compared to its average volume of 17,067,516. The stock has a 50-day moving average of $68.93 and a 200 day moving average of $70.22. CocaCola Company has a 1-year low of $60.62 and a 1-year 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 stock has a market capitalization of $286.28 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. CocaCola's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 72.34%.

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.