Empowered Funds Bolster Stake in The Coca-Cola Company Amid Strong Earnings
Empowered Funds LLC acquired an additional 60,180 shares of The Coca-Cola Company (KO) in the second quarter, boosting its holdings by 11.9%. At the end of the period, Empowered Funds owned 567,041 shares of KO's stock, valued at approximately $46 million. This move reflects the fund's confidence in Coca-Cola's performance and future prospects.
Several other institutional investors have also increased their stakes in Coca-Cola during the second quarter. Louisbourg Investments Inc. acquired a new stake worth around $25,000, while Guardian Partners Inc. bought a new position valued at approximately $27,000. Anfield Capital Management LLC raised its holdings by 438.8%, and Evolution Wealth Management Inc. grew its position by 1,081.8%.
Coca-Cola's latest quarterly earnings report showed revenue up 6.2% year-over-year, exceeding analysts' expectations of $13.17 billion. The company reported EPS of $0.97, beating the consensus estimate of $0.93. Chairman James Quincey sold 145,947 shares in a transaction on July 29th, under a pre-arranged Rule 10b5-1 trading plan to cover tax withholding obligations.