Abacus Planning Group Inc. Acquires 269 Shares of CocaCola Company (The) $KO

Abacus Planning Group Inc. boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,929 shares of the company’s stock after acquiring an additional 269 shares during the period. Abacus Planning Group Inc.’s holdings in CocaCola were worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of CocaCola in the 1st quarter valued at about $1,508,657,000. Wellington Management Group LLP boosted 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 valued at $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in shares of CocaCola in the 1st quarter valued at about $642,183,000. Raymond James Financial Inc. boosted its holdings in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after buying an additional 3,810,752 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of CocaCola by 497.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock valued at $321,548,000 after buying an additional 3,737,646 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

CocaCola Stock Down 1.0%

KO stock opened at $66.09 on Friday. The firm has a 50 day moving average of $68.32 and a 200 day moving average of $69.96. The stock has a market capitalization of $284.44 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43. 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 Company has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the firm posted $0.84 EPS. CocaCola’s revenue for the quarter was up 2.5% compared to the same quarter last year. 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 year.

CocaCola Announces Dividend

The firm also recently declared 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 of this dividend was 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company lowered their target price on shares of CocaCola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat.com, 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.