Ascent Group LLC Increases Stock Position in CocaCola Company (The) $KO

Key Points

• Ascent Group LLC increased its holdings in CocaCola by 13.4%, acquiring an additional 9,759 shares, bringing its total ownership to 82,461 shares, valued at approximately $5.91 million.
• CocaCola reported earnings of $0.87 per share for the latest quarter, exceeding estimates, and had a revenue of $12.50 billion, slightly below expectations.
• The company recently announced a quarterly dividend of $0.51 per share, reflecting a dividend yield of 3.0%, with an ex-dividend date set for September 15th.

Ascent Group LLC raised its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 13.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,461 shares of the company's stock after purchasing an additional 9,759 shares during the period. Ascent Group LLC's holdings in CocaCola were worth $5,906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in shares of CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares in the last quarter. Finally, Moser Wealth Advisors LLC lifted its holdings in shares of CocaCola by 449.5% in the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock valued at $36,000 after purchasing an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KO shares. UBS Group cut their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $77.21.

CocaCola Trading Up 0.8%

Shares of CocaCola stock traded up $0.52 during trading hours on Tuesday, hitting $67.95. The company's stock had a trading volume of 14,109,160 shares, compared to its average volume of 15,328,142. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The business has a fifty day moving average of $69.51 and a 200 day moving average of $70.44. The company has a market capitalization of $292.43 billion, a PE ratio of 24.10, a P/E/G ratio of 3.51 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio is 72.34%.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

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.