CocaCola Company (The) $KO Stock Bought by Baskin Financial Services Inc.

Baskin Financial Services Inc. raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,061 shares of the company’s stock after buying an additional 11,764 shares during the quarter. CocaCola comprises about 0.9% of Baskin Financial Services Inc.’s portfolio, making the stock its 29th biggest holding. Baskin Financial Services Inc.’s holdings in CocaCola were worth $10,593,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its stake in CocaCola by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 45,958,636 shares of the company’s stock valued at $3,735,058,000 after acquiring an additional 1,939,673 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CocaCola by 0.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,354,414 shares of the company’s stock worth $2,954,523,000 after purchasing an additional 162,097 shares in the last quarter. Wellington Management Group LLP lifted its stake in CocaCola by 9.2% in the 2nd quarter. Wellington Management Group LLP now owns 29,053,752 shares of the company’s stock worth $2,361,198,000 after purchasing an additional 2,439,026 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CocaCola by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,822,295 shares of the company’s stock worth $1,431,495,000 after purchasing an additional 235,785 shares during the last quarter. Finally, Fayez Sarofim & Co boosted its holdings in shares of CocaCola by 0.7% during the 2nd quarter. Fayez Sarofim & Co now owns 15,272,831 shares of the company’s stock worth $1,241,223,000 after purchasing an additional 113,599 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $90.39, for a total transaction of $4,519,500.00. Following the completion of the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $20,186,798.70. This trade represents a 18.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 111,365 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $90.93, for a total transaction of $10,126,419.45. Following the completion of the sale, the insider owned 41,365 shares in the company, valued at approximately $3,761,319.45. This trade represents a 72.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 926,620 shares of company stock valued at $83,075,714. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. HSBC upped their price target on CocaCola from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Seaport Research Partners set a $95.00 price objective on CocaCola in a research report on Friday, August 14th. TD Cowen reissued a “buy” rating on shares of CocaCola in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of CocaCola in a research note on Wednesday, September 16th. Finally, Bank of America upped their target price on CocaCola from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CocaCola has a consensus rating of “Moderate Buy” and a consensus target price of $96.27.

CocaCola Trading Down 0.4%

Shares of CocaCola stock traded down $0.41 during mid-day trading on Monday, hitting $93.49. The stock had a trading volume of 5,918,723 shares, compared to its average volume of 16,850,889. The firm has a 50-day moving average of $88.47 and a two-hundred day moving average of $83.39. The firm has a market cap of $402.25 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.65 and a beta of 0.32. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.97. CocaCola Company has a 12-month low of $67.27 and a 12-month high of $94.10.

CocaCola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. CocaCola had a net margin of 28.56% and a return on equity of 39.38%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. CocaCola has set its FY 2026 guidance at 3.270-3.300 EPS. Sell-side analysts forecast that CocaCola Company will post 3.30 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.12 annualized dividend and a yield of 2.3%. CocaCola’s dividend payout ratio (DPR) is 63.66%.

About CocaCola

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands.

The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.

The Coca-Cola Company serves consumers in more than 200 countries and territories through a system that includes company-operated operations, independent bottling partners, distributors, retailers, and food-service providers.