Beacon Financial Group Sells 3,891 Shares of CocaCola Company (The) $KO

Key Points

• Beacon Financial Group has decreased its stake in CocaCola by 5.8% after selling 3,891 shares, with their holdings now valued at approximately $4.51 million.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, resulting in a total value of about $2.58 million.
• Wall Street analysts maintain a consensus rating of "Buy" on CocaCola, with price targets ranging from $76.00 to $84.00.

Beacon Financial Group reduced its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,718 shares of the company's stock after selling 3,891 shares during the quarter. Beacon Financial Group's holdings in CocaCola were worth $4,508,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter valued at approximately $25,000. 1248 Management LLC acquired a new stake in CocaCola in the 1st quarter valued at approximately $26,000. Garde Capital Inc. acquired a new stake in CocaCola in the 1st quarter valued at approximately $30,000. Mizuho Securities Co. Ltd. increased its position in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC increased its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company's stock.

CocaCola Stock Down 0.3%

Shares of CocaCola stock traded down $0.22 during midday trading on Friday, hitting $66.25. The company's stock had a trading volume of 8,229,874 shares, compared to its average volume of 16,890,232. The firm has a market capitalization of $285.10 billion, a P/E ratio of 23.50, a PEG ratio of 3.49 and a beta of 0.43. The stock has a 50-day simple moving average of $69.00 and a 200-day simple moving average of $70.24. 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 Company has a 1-year low of $60.62 and a 1-year high of $74.38.

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, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola's payout ratio is presently 72.34%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, UBS Group reduced their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Two investment 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 currently has a consensus rating of "Buy" and an average target price of $76.93.

About CocaCola

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.