Quarterly institutional reshuffling in Coca-Cola shares
Two asset managers disclosed opposing moves in Coca-Cola (NYSE:KO) during the second quarter, underscoring continued turnover among the beverage maker's institutional shareholders. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Coca-Cola by 6.5%, purchasing an additional 53,077 shares to bring its position to 872,690 shares valued at about $70.9 million at the end of the reporting period. Separately, Synergy Asset Management LLC reduced its stake by 5.1%, selling 7,283 shares during the quarter and finishing the period with 134,168 shares worth roughly $10.9 million, making Coca-Cola about 1.0% of its portfolio and its 28th largest holding.
Broader institutional activity and ownership structure
The two Q2 disclosures are part of a wider pattern of hedge funds and other institutional investors adjusting their positions in Coca-Cola, with several firms substantially adding to their holdings in prior quarters. Recent filings reviewed in coverage noted that Norges Bank opened a new stake valued at about $3.87 billion, while Cardano Risk Management B.V., Marshall Wace LLP, Bank of America Corp DE and Capital World Investors each lifted existing positions in the fourth quarter. Brighton Jones LLC, Revolve Wealth Partners LLC, Dynamic Technology Lab Private Ltd, Jump Financial LLC and Osterweis Capital Management Inc. were also among managers adding or trimming shares in surrounding quarters. Hedge funds and other institutional investors collectively own 70.26% of Coca-Cola's stock.
Insider sales, earnings backdrop and capital return
Insiders have been net sellers of Coca-Cola shares in recent months, with corporate insiders selling 1,433,535 shares valued at $121.9 million over the past quarter. Notable transactions include Chairman James Quincey selling 145,947 shares on July 29 at an average price of $90.09 for about $13.1 million, and Executive Vice President Jennifer K. Mann selling 23,984 shares on June 10 at an average price of $83.41 for about $2.0 million; both transactions were carried out under pre-arranged Rule 10b5-1 trading plans. Insiders currently own 0.90% of the stock.
The share-selling activity has unfolded against an upbeat earnings backdrop. Coca-Cola reported quarterly EPS of $0.97 on revenue of $13.37 billion for the period covered in filings, beating the $0.93 EPS consensus on revenue expectations of $13.17 billion and representing 6.2% year-over-year revenue growth. The company set its full-year 2026 EPS guidance at $3.270 to $3.300, with analysts averaging $3.29 EPS for the current year. A quarterly dividend of $0.53 per share is slated for payment on October 1 to investors of record on September 15, equating to an annualized $2.12 payout. KO shares opened at $87.66 in trading cited in the filings, against a one-year low of $65.35 and a one-year high of $90.92, leaving the company with a market capitalization of $377.15 billion, a P/E ratio of 26.32, and a beta of 0.33.
Other developments
Separately, the Coca-Cola System Indonesia — comprising Coca-Cola Europacific Partners Indonesia and Coca-Cola Indonesia — together with PT Global Retailindo Pratama, operator of M Mart and Big M stores, launched the "Recycle Me" initiative in Bali. The program places PET bottle drop boxes at 20 M Mart locations to collect used packaging for recycling, with materials processed by Mahija Parahita Nusantara before being turned into food-grade recycled PET at the Amandina Bumi Nusantara facility, a joint venture between CCEP Indonesia and Dynapack Asia. The launch comes as Bali generates roughly 1.25 million tons of waste annually, according to Indonesia's National Waste Management Information System, with plastic accounting for more than 17% of the total.
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