Worth Asset Management LLC Invests $290,000 in CocaCola Company (The) $KO

Key Points

• Worth Asset Management LLC has acquired 4,094 shares of CocaCola Company, valued at approximately $290,000.
• CocaCola insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, resulting in a 15.15% decrease in his ownership.
• The company announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.1% and an upcoming payment date of October 1st.

Worth Asset Management LLC purchased a new stake in CocaCola Company (The) (NYSE:KO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,094 shares of the company's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the 1st quarter valued at about $25,000. 1248 Management LLC bought a new position in shares of CocaCola in the 1st quarter valued at about $26,000. Garde Capital Inc. bought a new position in shares of CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its stake in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its stake in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

CocaCola Trading Up 0.1%

NYSE:KO traded up $0.06 during mid-day trading on Friday, hitting $66.52. 31,087,715 shares of the company's stock were exchanged, compared to its average volume of 17,067,516. The company has a 50 day simple moving average of $68.93 and a 200-day simple moving average of $70.22. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $286.28 billion, a P/E ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the company earned $0.84 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.93.

CocaCola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.