Sutton Place Investors LLC Takes Position in CocaCola Company (The) $KO

Sutton Place Investors LLC purchased a new stake in CocaCola Company (The) (NYSE:KO) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,931 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KO. Vanguard Group Inc. increased its holdings in shares of CocaCola by 0.3% in the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock valued at $25,869,202,000 after purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP grew its position 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 increased its stake in CocaCola by 6.2% in 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares during the period. Amundi raised its position in 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 acquired a new stake in shares of CocaCola in the 1st quarter worth $1,508,657,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

CocaCola Stock Performance

Shares of KO stock opened at $66.65 on Friday. The stock has a fifty day moving average price of $68.27 and a 200 day moving average price of $69.94. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market cap of $286.86 billion, a PE ratio of 23.64, a P/E/G ratio of 3.47 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during 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 business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola’s payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Saturday, September 27th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Finally, Wells Fargo & Company dropped their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $76.93.

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.