Assetmark Inc. Raises Stock Position in CocaCola Company (The) $KO

Assetmark Inc. boosted its holdings in shares of CocaCola Company (The) (NYSE:KO) by 15.0% in the first quarter, HoldingsChannel reports. The firm owned 387,070 shares of the company’s stock after buying an additional 50,506 shares during the period. Assetmark Inc.’s holdings in CocaCola were worth $29,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its stake in shares of CocaCola by 438.8% during the 4th quarter. Anfield Capital Management LLC now owns 361 shares of the company’s stock valued at $25,000 after buying an additional 294 shares during the last quarter. Louisbourg Investments Inc. purchased a new stake in shares of CocaCola in the first quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in shares of CocaCola in the second quarter worth about $26,000. Evolution Wealth Management Inc. grew its holdings in CocaCola by 1,081.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 390 shares of the company’s stock worth $27,000 after acquiring an additional 357 shares during the period. Finally, Daytona Street Capital LLC acquired a new stake in CocaCola during the fourth quarter worth about $29,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction that occurred on 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 of the company’s stock, valued at $18,074,096.90. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.41, for a total value of $2,000,505.44. Following the sale, the executive vice president owned 157,400 shares of the company’s stock, valued at $13,128,734. The trade was a 13.22% decrease in their ownership of the stock. 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 three months, insiders sold 899,905 shares of company stock worth $71,832,315. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KO. Truist Financial set a $88.00 price target on CocaCola in a research report on Friday, June 26th. Bank of America raised their price objective on shares of CocaCola from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CocaCola from $83.00 to $86.00 and gave the company a “buy” rating in a report on Monday, March 30th. Piper Sandler reiterated an “overweight” rating on shares of CocaCola in a research note on Friday, June 26th. Finally, Sanford C. Bernstein set a $83.00 price target on shares of CocaCola in a report on Thursday, July 9th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.81.

CocaCola News Roundup

Here are the key news stories impacting CocaCola this week:

• Positive Sentiment: Heavy call-option activity suggests traders are positioning for a rebound or expecting volatility around the stock. Traders bought 75,333 call options, well above the recent average. Quiver Quant article on Coca-Cola options activity and cyberattack
• Neutral Sentiment: Some coverage noted KO benefiting from its defensive profile as investors look for more stable dividend names ahead of earnings, which may be helping support interest in the stock despite the cybersecurity issue. Benzinga article on Coca-Cola stock movement
• Neutral Sentiment: Coca-Cola also announced a quarterly dividend, reinforcing its appeal as a high-quality income stock, though this is unlikely to be the main driver of today’s trading.
• Negative Sentiment: The fairlife cyberattack is the key negative catalyst, since it hit a growth brand and temporarily suspended U.S. production, raising fears of lost revenue and added recovery costs. Reuters article on fairlife production halt

CocaCola Stock Down 4.0%

Shares of NYSE KO opened at $81.50 on Friday. The company’s 50-day simple moving average is $81.25 and its 200-day simple moving average is $77.63. CocaCola Company has a 52-week low of $65.35 and a 52-week high of $85.68. The firm has a market cap of $350.65 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 3.26 and a beta of 0.34. 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 (NYSE:KO) last released its earnings results on Tuesday, April 28th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. CocaCola had a net margin of 27.80% and a return on equity of 40.55%. The business had revenue of $12.47 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. Equities analysts predict that CocaCola Company will post 3.26 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 15th. CocaCola’s payout ratio is presently 66.67%.

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.