McAdam LLC Grows Stock Position in CocaCola Company (The) $KO

McAdam LLC boosted its holdings in CocaCola Company (The) (NYSE:KO) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,917 shares of the company’s stock after acquiring an additional 843 shares during the period. McAdam LLC’s holdings in CocaCola were worth $1,055,000 at the end of the most recent reporting period.

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

CocaCola Stock Down 0.7%

Shares of NYSE:KO opened at $66.00 on Friday. The firm’s 50 day moving average price is $68.67 and its 200 day moving average price is $70.09. The stock has a market cap of $284.06 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS 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 company had revenue of $12.50 billion during the quarter, compared to analysts’ expectations of $12.55 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola’s dividend payout ratio (DPR) is currently 72.34%.

Insiders Place Their Bets

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 completion of the sale, the insider directly owned 209,513 shares of the company’s stock, valued at $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 is available at this link. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the subject of several research analyst reports. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Morgan Stanley restated an “overweight” rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company lowered their price objective 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, JPMorgan Chase & Co. lifted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $76.93.

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.