Zurich Insurance Group Ltd FI Takes $63.53 Million Position in CocaCola Company (The) $KO

Key Points

• Zurich Insurance Group Ltd FI acquired a new stake in CocaCola, purchasing 886,995 shares valued at approximately $63.53 million in the first quarter of this year.
• Recent insider activity saw Nikolaos Koumettis sell 37,396 shares of CocaCola stock, resulting in a 15.15% decrease in his holdings, and was valued at over $2.58 million.
• The CocaCola Company announced a quarterly dividend of $0.51 per share, which will be paid to shareholders on October 1st, representing a yield of 3.0%.

Zurich Insurance Group Ltd FI purchased a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 886,995 shares of the company's stock, valued at approximately $63,527,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the first quarter worth $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC boosted its stake in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's 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 completion of the sale, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

KO has been the topic of several research analyst reports. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. UBS Group decreased their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, CocaCola has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Down 0.8%

KO stock opened at $67.43 on Tuesday. The stock has a market cap of $290.18 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.54 and a beta of 0.43. The firm's 50-day simple moving average is $69.59 and its 200 day simple moving average is $70.46. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week 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.

CocaCola (NYSE:KO - Get Free Report) last announced 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 company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business earned $0.84 earnings per share. CocaCola's 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. As a group, sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.0%. CocaCola's dividend payout ratio (DPR) is presently 72.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.