Calamos Wealth Management LLC has raised its investment in the Coca-Cola Company (NYSE: KO) by 1.8% during the second quarter of 2024, according to its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now holds a total of 15,855 shares of Coca-Cola, which are valued at approximately $1.12 million as of the end of June.
In addition to Calamos Wealth Management, several other institutional investors have adjusted their positions in Coca-Cola. New Republic Capital LLC increased its stake by 1.6% during the first quarter, bringing its total to 8,662 shares valued at $625,000. Similarly, Alteri Wealth LLC enhanced its holdings by 2.1%, resulting in ownership of 6,874 shares worth $492,000.
Requisite Capital Management LLC and Deseret Mutual Benefit Administrators also made adjustments to their positions. Requisite Capital raised its holdings by 2.8%, now owning 5,285 shares valued at $377,000, while Deseret Mutual Benefit Administrators increased its stake by 0.7%, totaling 20,099 shares worth $1.44 million.
Overall, institutional investors currently own 70.26% of Coca-Cola’s stock, reflecting significant confidence in the company’s performance.
Insider Activity and Stock Performance
In related news, Coca-Cola insider Nikolaos Koumettis sold 37,396 shares of the company’s stock on August 5, 2024, at an average price of $69.10 per share, amounting to approximately $2.58 million. Following this transaction, Koumettis retained 209,513 shares, valued at about $14.48 million. This sale represents a 15.15% reduction in his ownership of Coca-Cola stock.
As of the latest market opening, Coca-Cola shares traded at $68.45, with a market capitalization of $294.60 billion. The company’s price-to-earnings (P/E) ratio stands at 24.27, and it has a price-to-earnings-growth (PEG) ratio of 3.57. Coca-Cola has maintained a consistent debt-to-equity ratio of 1.49.
In terms of recent performance, Coca-Cola’s stock has fluctuated between a 52-week low of $60.62 and a high of $74.38. The company’s 50-day and 200-day simple moving averages are currently $67.84 and $69.69, respectively.
Coca-Cola recently released its earnings report for the first quarter of 2024 on March 27, revealing earnings per share of $0.55. The company reported a net margin of 25.89% and a return on equity of 44.91%, with total revenue reaching $11.40 billion. Research analysts predict an estimated earnings per share of 2.96 for the current fiscal year.
Dividend Announcement
Coca-Cola has also announced a quarterly dividend of $0.51 per share, which will be distributed on December 15, 2024. Shareholders of record as of December 1, 2024, will be eligible for this dividend, equating to an annualized payout of $2.04 and a yield of 3.0%. The company’s dividend payout ratio currently stands at 72.34%, indicating a commitment to returning value to its shareholders.
The Coca-Cola Company is globally recognized for its extensive portfolio of non-alcoholic beverages, including sparkling soft drinks, juices, and plant-based options. It also supplies beverage concentrates and syrups to various retailers, reinforcing its strong market presence.
