Advisors Capital Management LLC Raises Holdings in CocaCola Company (The) $KO

Advisors Capital Management LLC grew its position in CocaCola Company (The) (NYSE:KO) by 37.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 471,034 shares of the company’s stock after buying an additional 128,852 shares during the quarter. Advisors Capital Management LLC’s holdings in CocaCola were worth $33,735,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KO. Sage Financial Management Group Inc. bought a new position in shares of CocaCola in the 1st quarter worth $216,000. Cornerstone Wealth Management LLC increased its position in CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Fosun International Ltd acquired a new position in shares of CocaCola in the first quarter valued at about $216,000. Finally, Investors Research Corp increased its holdings in shares of CocaCola by 21.5% in the first quarter. Investors Research Corp now owns 10,419 shares of the company’s stock valued at $746,000 after purchasing an additional 1,846 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This trade 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 can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Performance

NYSE KO opened at $67.83 on Thursday. The company has a market cap of $291.90 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43. The stock’s 50 day simple moving average is $69.45 and its 200-day simple moving average is $70.42. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business’s quarterly revenue was up 2.5% compared to the same quarter last year. 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. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. UBS Group lowered their target price on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley restated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $77.21.

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.