Sumitomo Mitsui DS Asset Management Company Ltd Purchases 40,030 Shares of CocaCola Company (The) $KO

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of CocaCola Company (The) (NYSE:KO) by 5.4% in the second quarter, Holdings Channel reports. The institutional investor owned 783,488 shares of the company’s stock after buying an additional 40,030 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CocaCola were worth $55,432,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the last quarter. Wellington Management Group LLP increased its stake in CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CocaCola by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Amundi boosted its stake in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after buying an additional 2,922,619 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of CocaCola in the 1st quarter valued at about $1,508,657,000. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

CocaCola stock opened at $66.97 on Thursday. The company has a market capitalization of $288.22 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 3.45 and a beta of 0.43. The stock’s 50 day moving average is $69.07 and its 200-day moving average is $70.28. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola’s payout ratio is currently 72.34%.

Analyst Ratings Changes

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

Insider Transactions at CocaCola

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 transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. 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 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.