Fosun International Ltd Acquires Shares of 3,016 CocaCola Company (The) $KO

Fosun International Ltd acquired a new position in CocaCola Company (The) (NYSE:KO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,016 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of CocaCola in the 1st quarter worth approximately $1,508,657,000. Wellington Management Group LLP boosted its position 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 buying an additional 16,383,870 shares during the period. Boston Partners bought a new position in shares of CocaCola during the first quarter valued at approximately $642,183,000. GAMMA Investing LLC raised its holdings in shares of CocaCola by 8,419.4% in the first 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, Northern Trust Corp raised its holdings in shares of CocaCola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after buying an additional 3,811,756 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm’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 transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

CocaCola Trading Up 1.4%

NYSE KO opened at $70.1050 on Wednesday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a 50 day moving average price of $69.92 and a 200 day moving average price of $70.24. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The firm has a market cap of $301.71 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.60 and a beta of 0.44.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed 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. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola’s dividend payout ratio is 72.34%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent analyst reports. UBS Group reduced their target price on CocaCola from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an “outperform” rating in a research report on Monday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, BNP Paribas reaffirmed an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.21.

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.