Advisors Capital Management LLC Purchases 128,852 Shares of CocaCola Company (The) $KO

Key Points

• Advisors Capital Management LLC increased its CocaCola shares by 37.7%, acquiring an additional 128,852 shares, bringing its total holdings to 471,034 shares valued at approximately $33.7 million.
• Insider Nikolaos Koumettis sold 37,396 shares at $69.10 per share, resulting in a 15.15% decrease in their ownership, leaving them with 209,513 shares, valued around $14.5 million.
• Analysts are optimistic about CocaCola's stock, with several firms setting target prices above $76, and the stock receiving an average rating of "Buy" along with a consensus target price of $77.21.

Advisors Capital Management LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 37.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 471,034 shares of the company's stock after purchasing an additional 128,852 shares during the quarter. Advisors Capital Management LLC's holdings in CocaCola were worth $33,735,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KO. New Republic Capital LLC lifted its position in shares of CocaCola by 1.6% during the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after buying an additional 139 shares in the last quarter. Alteri Wealth LLC lifted its position in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after buying an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after purchasing an additional 143 shares in the last quarter. MBA Advisors LLC lifted its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock worth $891,000 after purchasing an additional 143 shares in the last quarter. Finally, BXM Wealth LLC lifted its holdings in CocaCola by 4.3% in the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several research analyst reports. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Finally, UBS Group reduced their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $77.21.

CocaCola Price Performance

KO opened at $67.83 on Thursday. The business has a fifty day moving average of $69.45 and a 200 day moving average of $70.42. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $291.90 billion, a P/E ratio of 24.05, a PEG ratio of 3.53 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 EPS. CocaCola'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, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's payout ratio is presently 72.34%.

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.

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