Kornitzer Capital Management Inc. KS Sells 6,025 Shares of CocaCola Company (The) $KO

Kornitzer Capital Management Inc. KS lessened its holdings in shares of CocaCola Company (The) (NYSE:KO) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 576,225 shares of the company’s stock after selling 6,025 shares during the period. CocaCola accounts for about 0.9% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 28th largest position. Kornitzer Capital Management Inc. KS’s holdings in CocaCola were worth $43,822,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Manning & Napier Advisors LLC increased its position in CocaCola by 21.1% in the 1st quarter. Manning & Napier Advisors LLC now owns 3,679 shares of the company’s stock valued at $281,000 after acquiring an additional 642 shares in the last quarter. DMC Group LLC acquired a new position in shares of CocaCola during the first quarter worth approximately $226,000. Whipplewood Advisors LLC acquired a new position in shares of CocaCola during the first quarter worth approximately $73,000. Texas Bank & Trust Co grew its stake in shares of CocaCola by 8.6% during the first quarter. Texas Bank & Trust Co now owns 42,745 shares of the company’s stock valued at $3,251,000 after purchasing an additional 3,369 shares during the last quarter. Finally, Millstone Evans Group LLC grew its stake in shares of CocaCola by 8.0% during the first quarter. Millstone Evans Group LLC now owns 2,740 shares of the company’s stock valued at $208,000 after purchasing an additional 204 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Trading Up 1.0%

Shares of CocaCola stock traded up $0.86 during trading on Friday, reaching $83.49. 10,692,829 shares of the company were exchanged, compared to its average volume of 18,981,964. The business has a 50-day moving average price of $80.79 and a 200-day moving average price of $77.17. The firm has a market capitalization of $359.23 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 3.30 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 Company has a twelve month low of $65.35 and a twelve month high of $85.68.

CocaCola (NYSE:KO) last released its earnings results on Tuesday, April 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. CocaCola had a return on equity of 40.55% and a net margin of 27.80%.The firm had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the firm posted $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. Sell-side analysts anticipate that CocaCola Company will post 3.26 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 15th. CocaCola’s dividend payout ratio (DPR) is currently 66.67%.

Insider Activity at CocaCola

In other CocaCola news, Chairman James Quincey sold 436,296 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $80.13, for a total value of $34,960,398.48. Following the completion of the sale, the chairman owned 122,833 shares of the company’s stock, valued at approximately $9,842,608.29. This represents a 78.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $80.93, for a total transaction of $2,559,411.25. Following the completion of the sale, the executive vice president owned 223,330 shares in the company, valued at approximately $18,074,096.90. This trade represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 899,905 shares of company stock worth $71,832,315 in the last ninety days. Company insiders own 0.90% of the company’s stock.

CocaCola News Summary

Here are the key news stories impacting CocaCola this week:

• Positive Sentiment: Analysts at Jefferies and Bank of America expect solid second-quarter results, citing resilient demand, steady volume trends, and stronger organic sales growth; Jefferies also sees a modest earnings beat. Coca-Cola expected to post solid second-quarter results as analysts highlight resilient demand
• Positive Sentiment: Bank of America raised its price target on KO to $95 and reiterated a buy rating, while JPMorgan lifted its target to $90 and maintained an overweight view, signaling confidence in further upside. Benzinga report on Bank of America target raise Tickerreport report on JPMorgan target raise
• Positive Sentiment: Marriott announced a global beverage partnership making Coca-Cola its primary beverage provider across guestrooms, restaurants, lounges, and events, which could expand KO’s distribution in hospitality and boost long-term brand reach. Marriott International (MAR), Coca-Cola Company (KO) Announce Global Beverage Partnership
• Neutral Sentiment: Recent articles also highlighted Coca-Cola’s stock having already run up near the top of its 52-week range and discussed whether the shares are becoming expensive after the rally, which may temper enthusiasm but does not change the core business outlook. Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note Is Coca-Cola (NYSE:KO) Too Rich After Its Run?
• Negative Sentiment: One recent trading update noted KO fell in the prior session despite broader market strength, suggesting some short-term profit-taking after its strong move. Coca-Cola (KO) Stock Drops Despite Market Gains: Important Facts to Note

Analysts Set New Price Targets

A number of analysts recently weighed in on KO shares. Sanford C. Bernstein set a $83.00 price target on shares of CocaCola in a report on Thursday. TD Cowen upped their price objective on CocaCola from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. UBS Group increased their price objective on CocaCola from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their target price on CocaCola from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on CocaCola from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Fifteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, CocaCola currently has an average rating of “Moderate Buy” and an average target price of $88.06.

CocaCola Company 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.