Sunbeam Capital Management LLC Boosts Stake in CocaCola Company (The) $KO

Sunbeam Capital Management LLC grew its position in shares of CocaCola Company (The) (NYSE:KO) by 7.5% during the second quarter, Holdings Channel reports. The fund owned 14,713 shares of the company’s stock after purchasing an additional 1,021 shares during the period. Sunbeam Capital Management LLC’s holdings in CocaCola were worth $1,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after acquiring an additional 1,114,422 shares during the period. Wellington Management Group LLP grew its holdings in shares of CocaCola by 52.7% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Amundi grew its holdings in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Finally, Nuveen LLC purchased a new position in shares of CocaCola during the 1st quarter worth approximately $1,508,657,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research note on Saturday, September 27th. Morgan Stanley restated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, BNP Paribas restated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $76.93.

CocaCola Stock Performance

KO stock opened at $66.09 on Tuesday. The stock has a market capitalization of $284.43 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 stock’s 50 day simple moving average is $68.23 and its 200 day simple moving average is $69.93.

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, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola’s dividend payout ratio is 72.34%.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company’s 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 transaction, the insider directly owned 209,513 shares of the company’s stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% 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.