BFI Infinity Ltd. Cuts Stake in CocaCola Company (The) $KO

BFI Infinity Ltd. lowered its position in CocaCola Company (The) (NYSE:KO) by 44.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,166 shares of the company’s stock after selling 3,356 shares during the quarter. BFI Infinity Ltd.’s holdings in CocaCola were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in KO. Nuveen LLC purchased a new stake in shares of CocaCola during the first quarter valued at approximately $1,508,657,000. Wellington Management Group LLP raised its holdings in shares of CocaCola by 52.7% during 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 acquiring an additional 16,383,870 shares in the last quarter. Boston Partners bought a new position in CocaCola in the first quarter worth $642,183,000. Raymond James Financial Inc. raised its holdings in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in CocaCola by 497.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock worth $321,548,000 after purchasing an additional 3,737,646 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KO shares. UBS Group reduced their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 11th. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their target price on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BNP Paribas reaffirmed an “outperform” rating and set a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $76.93.

CocaCola Stock Performance

NYSE:KO opened at $66.00 on Tuesday. 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 Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock’s 50 day simple moving average is $68.50 and its two-hundred day simple moving average is $70.04. The company has a market cap of $284.04 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 3.42 and a beta of 0.43.

CocaCola (NYSE:KO) last released its quarterly earnings data 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 return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The company’s 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 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.