QRG Capital Management Inc. Grows Holdings in CocaCola Company (The) $KO

QRG Capital Management Inc. raised its position in CocaCola Company (The) (NYSE:KO) by 6.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 417,069 shares of the company’s stock after buying an additional 26,896 shares during the period. QRG Capital Management Inc.’s holdings in CocaCola were worth $29,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of CocaCola in the 1st quarter valued at approximately $1,508,657,000. Wellington Management Group LLP grew 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 worth $3,398,185,000 after buying an additional 16,383,870 shares in the last quarter. Boston Partners bought a new stake in shares of CocaCola in the first quarter worth $642,183,000. Raymond James Financial Inc. raised its holdings in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock valued at $848,315,000 after acquiring an additional 3,810,752 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in CocaCola by 497.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company’s stock valued at $321,548,000 after acquiring an additional 3,737,646 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated Tuesday, August 5th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KO shares. UBS Group dropped their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company cut their price objective on CocaCola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $76.93.

CocaCola Trading Up 0.8%

NYSE:KO opened at $66.65 on Friday. CocaCola Company has a 12-month low of $60.62 and a 12-month 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 business has a 50 day simple moving average of $68.27 and a 200 day simple moving average of $69.94. The firm has a market capitalization of $286.86 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.45 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating 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 the consensus estimate of $12.55 billion. During the same period last year, the firm posted $0.84 EPS. CocaCola’s quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

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

About CocaCola

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.