Parallel Advisors LLC Raises Position in CocaCola Company (The) $KO

Parallel Advisors LLC raised its holdings in shares of CocaCola Company (The) (NYSE:KO) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,819 shares of the company’s stock after acquiring an additional 4,046 shares during the quarter. Parallel Advisors LLC’s holdings in CocaCola were worth $6,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of KO. Sage Financial Management Group Inc. purchased a new position in shares of CocaCola during the 1st quarter valued at $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 valued at $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of CocaCola by 3.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company’s stock valued at $8,686,000 after buying an additional 3,920 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of CocaCola by 0.5% during the 1st quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company’s stock valued at $54,635,000 after buying an additional 3,837 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its stake in shares of CocaCola by 37.7% during the 1st quarter. Advisors Capital Management LLC now owns 471,034 shares of the company’s stock valued at $33,735,000 after buying an additional 128,852 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

CocaCola Stock Performance

CocaCola stock opened at $66.22 on Tuesday. The company’s 50-day moving average price is $69.20 and its 200-day moving average price is $70.33. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. 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 company has a market cap of $284.99 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $12.55 billion. During the same period in the previous year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities research analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The firm 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%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KO shares. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.93.

CocaCola 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.