CocaCola Company (The) $KO Shares Purchased by Sumitomo Mitsui Financial Group Inc.

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Sumitomo Mitsui Financial Group Inc. raised its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 226,306 shares of the company's stock after acquiring an additional 12,225 shares during the period. Sumitomo Mitsui Financial Group Inc.'s holdings in CocaCola were worth $16,208,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KO. Sage Financial Management Group Inc. purchased a new position in shares of CocaCola during the first quarter worth approximately $216,000. Voleon Capital Management LP bought a new position in shares of CocaCola during the fourth quarter valued at approximately $2,513,000. Cornerstone Wealth Management LLC lifted its position in CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after acquiring an additional 3,920 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock valued at $52,851,000 after acquiring an additional 204,681 shares during the last quarter. Finally, Investors Research Corp lifted its position in CocaCola by 21.5% during the first quarter. Investors Research Corp now owns 10,419 shares of the company's stock valued at $746,000 after acquiring an additional 1,846 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

CocaCola Stock Up 0.7%

Shares of CocaCola stock traded up $0.5090 during trading hours on Wednesday, hitting $70.6390. The company had a trading volume of 17,527,593 shares, compared to its average volume of 13,082,515. The company's 50-day moving average is $69.92 and its two-hundred day moving average is $70.24. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a market cap of $304.01 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.65 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 72.34%.

Insider Transactions at CocaCola

In other 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 in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group dropped their target price on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. 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. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $77.21.

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.