CocaCola Company (The) $KO Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management grew its position in CocaCola Company (The) (NYSE:KO) by 1.2% in the second quarter, HoldingsChannel reports. The fund owned 35,121 shares of the company’s stock after acquiring an additional 415 shares during the quarter. CocaCola accounts for about 1.4% of Massachusetts Wealth Management’s portfolio, making the stock its 28th largest position. Massachusetts Wealth Management’s holdings in CocaCola were worth $2,485,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of CocaCola during the first quarter worth about $1,508,657,000. Wellington Management Group LLP increased its stake 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 worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new stake in shares of CocaCola during the first quarter worth about $642,183,000. Raymond James Financial Inc. increased its stake in shares of CocaCola by 47.4% during 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. increased its stake in shares of CocaCola by 497.0% during 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. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $66.10 on Thursday. The firm has a 50 day simple moving average of $68.13 and a 200-day simple moving average of $69.88. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market cap of $284.47 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.48 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data 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 firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period in the prior year, the business posted $0.84 EPS. The business’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. On average, analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company’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 value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BNP Paribas reissued an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company dropped 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, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to data from MarketBeat.com, CocaCola has an average 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.