Beacon Investment Advisory Services Inc. Acquires 4,919 Shares of CocaCola Company (The) $KO

Key Points

• Beacon Investment Advisory Services Inc. increased its holdings in CocaCola by 74.9% during the second quarter, acquiring an additional 4,919 shares, bringing its total to 11,487 shares valued at approximately $813,000.
• CocaCola reported earnings of $0.87 per share for the last quarter, surpassing estimates, with revenue totaling $12.50 billion but falling short of expectations.
• The company has declared a quarterly dividend of $0.51 to be paid on October 1st, 2023, representing a 3.1% dividend yield.

Beacon Investment Advisory Services Inc. increased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 74.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,487 shares of the company's stock after buying an additional 4,919 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in CocaCola were worth $813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Missouri Trust & Investment Co raised its stake in shares of CocaCola by 4.1% during the second quarter. Missouri Trust & Investment Co now owns 12,776 shares of the company's stock worth $904,000 after buying an additional 506 shares during the last quarter. Verum Partners LLC raised its stake in shares of CocaCola by 1.5% during the second quarter. Verum Partners LLC now owns 63,511 shares of the company's stock worth $4,493,000 after buying an additional 919 shares during the last quarter. Smith & Howard Wealth Management LLC raised its stake in shares of CocaCola by 2.8% during the second quarter. Smith & Howard Wealth Management LLC now owns 21,091 shares of the company's stock worth $1,492,000 after buying an additional 572 shares during the last quarter. Mather Group LLC. raised its stake in shares of CocaCola by 11.5% during the second quarter. Mather Group LLC. now owns 44,246 shares of the company's stock worth $3,130,000 after buying an additional 4,568 shares during the last quarter. Finally, Evanson Asset Management LLC bought a new stake in shares of CocaCola during the second quarter worth approximately $345,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred 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 owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

CocaCola Stock Down 0.7%

CocaCola stock opened at $66.00 on Friday. The stock has a market capitalization of $284.06 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a twelve month low of $60.62 and a twelve month 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 company has a 50 day moving average of $68.67 and a 200-day moving average of $70.09.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion during the quarter, compared to analysts' expectations 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 company earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is 72.34%.

CocaCola Company 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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