Blue Trust Inc. Sells 17,613 Shares of CocaCola Company (The) $KO

Key Points

• Blue Trust Inc. reduced its stake in CocaCola by 1.8%, selling 17,613 shares during the second quarter, leaving it with 947,254 shares valued at approximately $67 million.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, decreasing his ownership by 15.15% to 209,513 shares.
• As of the last quarter, CocaCola's shares have a market cap of $285.33 billion with a current ratio of 1.21 and reported 2.5% year-over-year revenue growth.

Blue Trust Inc. cut its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 947,254 shares of the company's stock after selling 17,613 shares during the quarter. CocaCola makes up approximately 0.8% of Blue Trust Inc.'s holdings, making the stock its 23rd biggest position. Blue Trust Inc.'s holdings in CocaCola were worth $67,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter worth $25,000. 1248 Management LLC bought a new position in CocaCola in the 1st quarter worth $26,000. Garde Capital Inc. purchased a new stake in CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% during the first 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 lifted its position 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 acquiring an additional 285 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction 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 transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by insiders.

CocaCola Stock Up 0.3%

Shares of NYSE:KO opened at $66.30 on Friday. The company has a market cap of $285.33 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 3.44 and a beta of 0.43. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $68.09 and a 200 day moving average price of $69.86.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for 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 firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analysts Set New Price Targets

Several research firms recently issued reports on KO. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Wells Fargo & Company cut their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the company presently 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.

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