EdgeRock Capital LLC Takes Position in CocaCola Company (The) $KO

EdgeRock Capital LLC acquired a new stake in CocaCola Company (The) (NYSE:KO) in the second quarter, Holdings Channel.com reports. The fund acquired 3,643 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of CocaCola in the first quarter valued at $1,508,657,000. Wellington Management Group LLP boosted its stake in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. Boston Partners acquired a new position in shares of CocaCola in the first quarter valued at approximately $642,183,000. GAMMA Investing LLC increased its stake in CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company’s stock worth $426,927,000 after buying an additional 5,891,034 shares during the period. Finally, Raymond James Financial Inc. increased its stake in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after buying an additional 3,810,752 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Price Performance

KO stock opened at $66.00 on Friday. 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 company has a market capitalization of $284.06 billion, a P/E ratio of 23.41, a PEG ratio of 3.46 and a beta of 0.43. The business has a 50 day simple moving average of $68.67 and a 200-day simple moving average of $70.09. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results 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. 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 the consensus estimate of $12.55 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly 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, equities analysts anticipate 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. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio is currently 72.34%.

Analysts Set New Price Targets

Several research analysts recently commented on KO shares. JPMorgan Chase & Co. boosted their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. BNP Paribas reissued an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. UBS Group cut their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Wells Fargo & Company decreased their price target on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an “outperform” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola currently has a consensus rating of “Buy” and a consensus target price of $76.93.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

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.