Viking Fund Management LLC Has $7.08 Million Stock Holdings in CocaCola Company (The) $KO

Key Points

• Viking Fund Management LLC increased its stake in CocaCola Company by 25%, now owning 100,000 shares valued at $7,075,000.
• Several hedge funds heavily invested in CocaCola, with notable acquisitions from Nuveen LLC and GAMMA Investing LLC, reflecting strong institutional interest in the company.
• CocaCola recently announced a quarterly dividend of $0.51 per share, resulting in an annual yield of 3.1%, and reported Q2 earnings that surpassed analyst expectations.

Viking Fund Management LLC grew its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 25.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,000 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. Viking Fund Management LLC's holdings in CocaCola were worth $7,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. New Republic Capital LLC lifted its holdings in 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 lifted its stake in CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock worth $492,000 after purchasing an additional 140 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of CocaCola by 0.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after buying an additional 143 shares during the last quarter. MBA Advisors LLC raised its position in shares of CocaCola by 1.2% during the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after purchasing an additional 143 shares during the period. Finally, BXM Wealth LLC boosted its holdings in shares of CocaCola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after acquiring an additional 144 shares during the period. Institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on KO. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. BNP Paribas reiterated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $76.93.

CocaCola Stock Performance

KO stock traded up $0.06 during midday trading on Friday, hitting $66.52. 31,087,715 shares of the company traded hands, compared to its average volume of 17,067,516. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The business has a 50 day simple moving average of $68.93 and a 200-day simple moving average of $70.22. The stock has a market capitalization of $286.28 billion, a price-to-earnings 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 issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same period last year, the business earned $0.84 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's 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.