Magellan Asset Management Ltd lessened its stake in shares of CocaCola Company (The) (NYSE:KO – Free Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,618,571 shares of the company’s stock after selling 519,869 shares during the quarter. CocaCola makes up 1.6% of Magellan Asset Management Ltd’s holdings, making the stock its 28th biggest holding. Magellan Asset Management Ltd’s holdings in CocaCola were worth $123,092,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of CocaCola by 0.3% during the first quarter. Geneos Wealth Management Inc. now owns 40,879 shares of the company’s stock worth $3,109,000 after purchasing an additional 129 shares during the last quarter. HORAN Wealth LLC grew its stake in shares of CocaCola by 3.9% in the first quarter. HORAN Wealth LLC now owns 3,458 shares of the company’s stock worth $263,000 after purchasing an additional 130 shares during the last quarter. Beacon Financial Advisory LLC raised its position in shares of CocaCola by 0.5% during the first quarter. Beacon Financial Advisory LLC now owns 26,844 shares of the company’s stock worth $2,041,000 after acquiring an additional 136 shares during the last quarter. Vestia Personal Wealth Advisors lifted its stake in shares of CocaCola by 3.8% in the fourth quarter. Vestia Personal Wealth Advisors now owns 3,819 shares of the company’s stock worth $275,000 after acquiring an additional 140 shares during the period. Finally, Alteri Wealth LLC increased its position in CocaCola by 1.9% during the 4th quarter. Alteri Wealth LLC now owns 7,738 shares of the company’s stock valued at $541,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.
CocaCola Stock Down 0.2%
CocaCola stock opened at $81.97 on Wednesday. The firm has a 50 day moving average price of $81.35 and a 200-day moving average price of $77.85. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.09. CocaCola Company has a twelve month low of $65.35 and a twelve month high of $85.68. The company has a market capitalization of $352.67 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.28 and a beta of 0.34.
CocaCola Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.12 annualized dividend and a dividend yield of 2.6%. CocaCola’s dividend payout ratio is presently 66.67%.
Insider Buying and Selling
In related news, EVP Nancy Quan sold 31,625 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $80.93, for a total value of $2,559,411.25. Following the sale, the executive vice president directly owned 223,330 shares in the company, valued at approximately $18,074,096.90. The trade was a 12.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jennifer K. Mann sold 23,984 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total transaction of $2,000,505.44. Following the transaction, the executive vice president owned 157,400 shares of the company’s stock, valued at $13,128,734. This represents a 13.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 899,905 shares of company stock valued at $71,832,315. 0.90% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on KO shares. TD Cowen increased their price objective on shares of CocaCola from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded CocaCola from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CocaCola from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Bank of America upped their target price on shares of CocaCola from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on CocaCola from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.33.
CocaCola News Roundup
Here are the key news stories impacting CocaCola this week:
- Positive Sentiment: Coca-Cola is reportedly using AI to improve marketing and vending performance, with one report saying the effort helped drive a 15% surge in vending sales, reinforcing the company’s ability to use technology to strengthen its core brand. Coca-Cola Used AI to Make Itself More Coca-Cola
- Positive Sentiment: Analysts remain constructive ahead of earnings, saying Coca-Cola’s pricing power, stable demand, and solid growth outlook could support another strong quarter and help the company maintain guidance. Coca-Cola’s Growth Outlook Remains Strong Ahead of Q2 Results, UBS Says
- Positive Sentiment: Recent commentary also highlights Coca-Cola’s strong fundamentals, including durable organic growth, strong free-cash-flow conversion, and shareholder returns, which continue to support the stock’s defensive appeal. Coca-Cola Keeps Outperforming My Expectations (Earnings Preview)
- Neutral Sentiment: The company is also reportedly preparing an India bottler IPO, a strategic move that could unlock value over time but is not an immediate earnings driver. Coca-Cola picks bankers for its India bottler IPO
- Negative Sentiment: Coca-Cola’s Fairlife unit was hit by a ransomware attack, with production suspended and a hacking group claiming responsibility, raising near-term concerns about supply disruptions and potential data/security costs. Gang claims responsibility for hack at Coca-Cola’s fairlife unit
CocaCola Profile
The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.
Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.
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