Calamos Wealth Management Increases Coca-Cola Holdings to $1.12 Million

Calamos Wealth Management LLC has increased its investment in the Coca-Cola Company (NYSE: KO) by 1.8% during the second quarter of 2024, as detailed in its latest Form 13F filing with the Securities and Exchange Commission (SEC). By acquiring an additional 276 shares, the institutional investor now holds a total of 15,855 shares, valued at approximately $1,122,000 at the close of this quarter.

Other institutional investors have also adjusted their positions in Coca-Cola recently. New Republic Capital LLC raised its holdings by 1.6% in the first quarter, bringing its total to 8,662 shares, valued at $625,000 after purchasing 139 additional shares. Alteri Wealth LLC increased its stake by 2.1%, now owning 6,874 shares worth $492,000 following a purchase of 140 shares.

Requisite Capital Management LLC expanded its position by 2.8% in the same quarter, now controlling 5,285 shares with an estimated value of $377,000. Additionally, Deseret Mutual Benefit Administrators grew its investment by 0.7%, owning 20,099 shares valued at $1,439,000. Lastly, MBA Advisors LLC raised its holdings by 1.2%, now owning 12,443 shares worth $891,000. Currently, institutional investors collectively own 70.26% of Coca-Cola’s stock.

In related news, insider Nikolaos Koumettis sold 37,396 shares of Coca-Cola on August 5, 2024, at an average price of $69.10, totaling $2,584,063.60. Following this transaction, Koumettis retains 209,513 shares valued at approximately $14,477,348.30, representing a 15.15% decrease in ownership. This sale was disclosed in a filing with the SEC.

Coca-Cola Stock Performance and Financial Outlook

On Monday, Coca-Cola’s stock opened at $68.45, with a market capitalization of $294.60 billion. The company has a price-to-earnings (P/E) ratio of 24.27, a price-to-earnings-growth (PEG) ratio of 3.57, and a beta of 0.43. Its debt-to-equity ratio stands at 1.49, while its quick and current ratios are 0.98 and 1.21, respectively. Over the past year, Coca-Cola has experienced a 52-week low of $60.62 and a high of $74.38. The stock has a 50-day simple moving average of $67.84 and a 200-day simple moving average of $69.69.

Coca-Cola recently reported its earnings for the quarter ending March 27, 2024, showing earnings per share of $0.55. The company recorded a net margin of 25.89% and a return on equity of 44.91%, with quarterly revenue reaching $11.40 billion. Analysts project that Coca-Cola will achieve an earnings per share (EPS) of $2.96 for the current fiscal year.

Coca-Cola’s Dividend Announcement

Coca-Cola has also declared a quarterly dividend to be paid on December 15, 2024. Shareholders on record as of December 1, 2024 will receive a dividend of $0.51 per share, amounting to an annualized dividend of $2.04 and a yield of 3.0%. The ex-dividend date for this payment is set for December 1, 2024, and the company’s dividend payout ratio currently stands at 72.34%.

The Coca-Cola Company, a leading global beverage manufacturer, continues to diversify its product offerings, which include sparkling and still beverages, coffee, tea, and plant-based drinks. The company also provides beverage concentrates and syrups to various retailers, enhancing its market presence worldwide.