No material corporate announcements served as the primary driver for this report. Instead, the trigger is a series of notable institutional position changes disclosed in recent 13F filings, reflecting shifts in how major asset managers have sized their exposure to Coca-Cola. The company's trailing twelve-month financials and insider activity provide additional context for the data reviewed here [Brief - 2026-05-24].
Coca-Cola reported trailing twelve-month revenue of $49.28 billion, representing year-over-year growth of 12.07%, alongside net income of $13.70 billion and a net margin of 27.80%. Gross margin stood at 61.74% and operating margin at 29.34%. Earnings per share grew 18.18% year-over-year. The company held $10.57 billion in cash against total debt of $38.87 billion. The price-to-earnings ratio was recorded at 24.85x at the time of filing [SEC 10-Q - KO - 2026-04-03].
Five insider transactions were recorded in the trailing 30 days, with net direction characterised as selling and a combined net disposal value of approximately $18.34 million [SEC Form 4 - KO - 2026-06]. On the institutional side, Citadel added approximately 51% to its existing position, while Soros Fund Management opened a new position. Millennium reduced its position by 10% and AQR Capital reduced by 6.9%. Bridgewater recorded the largest reduction among filers, cutting its position by 21% [SEC 13F - Citadel - Q1 2026; SEC 13F - Millennium - Q1 2026; SEC 13F - AQR Capital - Q1 2026; SEC 13F - Bridgewater - Q1 2026; SEC 13F - Soros Fund Mgmt - Q1 2026].
The prevailing macro environment shows the 10-year US Treasury yield at 4.45% and the 2-year at 3.99%, producing a normal yield curve spread of 46 basis points [FRED DGS10; FRED DGS2]. This interest rate context is relevant to consumer staples equities broadly, given the sector's historically observed sensitivity to fixed-income alternatives and the company's substantial long-term debt load of $38.87 billion noted above.