BNP Paribas Boosts Holdings in CocaCola Company (The) $KO

BNP Paribas raised its stake in CocaCola Company (The) (NYSE:KO) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 638,232 shares of the company’s stock after acquiring an additional 12,065 shares during the quarter. CocaCola makes up 1.5% of BNP Paribas’ holdings, making the stock its 15th biggest position. BNP Paribas’ holdings in CocaCola were worth $45,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sei Investments Co. raised its holdings in shares of CocaCola by 4.9% in the 2nd quarter. Sei Investments Co. now owns 2,268,158 shares of the company’s stock worth $160,474,000 after purchasing an additional 104,979 shares during the period. NewEdge Advisors LLC increased its position in CocaCola by 12.8% in the second quarter. NewEdge Advisors LLC now owns 310,863 shares of the company’s stock worth $21,994,000 after buying an additional 35,378 shares during the last quarter. Night Squared LP bought a new stake in shares of CocaCola in the second quarter valued at $8,256,000. Stamos Capital Partners L.P. lifted its position in shares of CocaCola by 2.0% during the 2nd quarter. Stamos Capital Partners L.P. now owns 28,441 shares of the company’s stock valued at $2,012,000 after buying an additional 561 shares during the last quarter. Finally, BCS Private Wealth Management Inc. bought a new position in shares of CocaCola during the 2nd quarter worth $455,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola Stock Performance

CocaCola stock opened at $70.20 on Thursday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $301.97 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.89 and a beta of 0.39. The firm’s 50 day simple moving average is $69.72 and its 200 day simple moving average is $69.51.

CocaCola (NYSE:KO) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insiders Place Their Bets

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 225,252 shares of company stock worth $15,953,007. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Piper Sandler upped their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Bank of America boosted their target price on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company increased their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $78.43.

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.