Coca-Cola Earnings Beat Estimates, Institutional Investors Boost Positions
Coca-Cola has reported earnings of $0.87 per share, surpassing analyst estimates of $0.83. Despite this, the company's share price remains below both the 50-day and 200-day moving averages. Meanwhile, institutional investors, including financial advisors like Wellington Management Group LLP, have shown increased interest, with Wellington boosting its position by 52.7% to $3.4 billion.
Coca-Cola's revenue has climbed 2.5% to $12.5 billion. The company's net margin stands at a healthy 25.89%, and its return on equity is 44.91%. Coca-Cola has also declared a quarterly dividend of $0.51 per share, offering a 3.1% yield to shareholders.
Institutional investors now control over 70% of all Coca-Cola shares. Major funds and asset managers, including Vanguard Group, Exchange Traded Concepts LLC, Farther Finance Advisors LLC, Caitlin John LLC, and Park Avenue Securities LLC, have collectively increased their holdings. Wellington Management Group LLP and Capital Advisors Inc. have expanded their positions by 52.7% and 25.4% respectively. However, Prime Capital Investment Advisors LLC reduced its stake by 5.9% and sold nearly 10,000 shares.
Coca-Cola's earnings and revenue growth, coupled with a strong dividend yield, have attracted significant institutional investment. Despite the share price remaining below moving averages, the company's fundamentals and investor interest suggest a positive outlook.
