CocaCola Company (The) $KO Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd has reduced its holdings in Coca-Cola by 42.7%, selling 471,200 shares during the first quarter, leaving them with 632,914 shares valued at approximately $45.3 million.
• Insider Nikolaos Koumettis sold 37,396 shares of Coca-Cola, reducing their ownership by 15.15%, in a transaction worth about $2.58 million.
• Several analysts have raised their target prices for Coca-Cola, with ratings indicating a consensus of “Buy” and a target price around $77.21.

USS Investment Management Ltd decreased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 632,914 shares of the company's stock after selling 471,200 shares during the quarter. USS Investment Management Ltd's holdings in CocaCola were worth $45,332,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of CocaCola during the first quarter worth about $1,508,657,000. Wellington Management Group LLP grew its holdings in CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares in the last quarter. Boston Partners acquired a new position in CocaCola during the 1st quarter worth approximately $642,183,000. GAMMA Investing LLC increased its position in shares of CocaCola by 8,419.4% in the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after purchasing an additional 5,891,034 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock valued at $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Performance

KO traded down $0.60 during trading on Friday, hitting $67.03. 8,905,251 shares of the stock were exchanged, compared to its average volume of 16,868,221. 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 1-year low of $60.62 and a 1-year high of $74.38. The stock has a fifty day moving average price of $69.38 and a two-hundred day moving average price of $70.40. The firm has a market capitalization of $288.45 billion, a P/E ratio of 23.76, a PEG ratio of 3.53 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the firm posted $0.84 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KO. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, CocaCola has an average rating of "Buy" and an average target price of $76.93.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.97% of the company's stock.

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.