Cullinan Associates Inc. Increases Stock Holdings in CocaCola Company (The) $KO

Cullinan Associates Inc. lifted its position in shares of CocaCola Company (The) (NYSE:KO) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,377,472 shares of the company’s stock after buying an additional 15,409 shares during the quarter. CocaCola comprises 6.4% of Cullinan Associates Inc.’s holdings, making the stock its 2nd biggest position. Cullinan Associates Inc.’s holdings in CocaCola were worth $97,456,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. New Republic Capital LLC lifted its position in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after acquiring an additional 139 shares during the period. Alteri Wealth LLC raised its stake in CocaCola by 2.1% in the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock valued at $492,000 after purchasing an additional 140 shares in the last quarter. Requisite Capital Management LLC raised its stake in CocaCola by 2.8% in the second quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after purchasing an additional 142 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock worth $1,439,000 after purchasing an additional 143 shares during the period. Finally, MBA Advisors LLC grew its stake in CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock worth $891,000 after buying an additional 143 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Saturday, September 27th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. UBS Group decreased their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $76.93.

CocaCola Stock Performance

Shares of KO stock opened at $66.65 on Monday. The firm has a market capitalization of $286.86 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.47 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $68.27 and its 200-day moving average price is $69.95. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) 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 net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the business earned $0.84 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

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.