Bridgeway Capital Management LLC Sells 29,423 Shares of CocaCola Company (The) $KO

Key Points

• Bridgeway Capital Management LLC has reduced its holdings in CocaCola Company by 9.9%, selling 29,423 shares during the first quarter, leaving it with 266,733 shares valued at approximately $19.1 million.
• The company reported $0.87 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $0.83, with quarterly revenue of $12.50 billion, up 2.5% from the same quarter last year.
• CocaCola announced a quarterly dividend of $0.51 per share, with a yield of 3.0%, to be paid on October 1st to investors of record on September 15th.

Bridgeway Capital Management LLC decreased its position in CocaCola Company (The) (NYSE:KO - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,733 shares of the company's stock after selling 29,423 shares during the period. Bridgeway Capital Management LLC's holdings in CocaCola were worth $19,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA lifted its holdings in CocaCola by 267.7% during the first quarter. Banque Transatlantique SA now owns 269,168 shares of the company's stock worth $17,815,000 after acquiring an additional 195,966 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of CocaCola by 0.7% during the 1st quarter. Advisors Asset Management Inc. now owns 455,593 shares of the company's stock worth $32,630,000 after purchasing an additional 3,011 shares during the last quarter. Ancora Advisors LLC increased its position in shares of CocaCola by 10.1% during the 1st quarter. Ancora Advisors LLC now owns 39,018 shares of the company's stock worth $2,794,000 after purchasing an additional 3,564 shares during the last quarter. Amundi increased its position in shares of CocaCola by 16.0% during the 1st quarter. Amundi now owns 21,236,315 shares of the company's stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. Finally, Aprio Wealth Management LLC increased its position in shares of CocaCola by 10.3% during the 1st quarter. Aprio Wealth Management LLC now owns 35,137 shares of the company's stock worth $2,517,000 after purchasing an additional 3,268 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

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

CocaCola Stock Performance

Shares of KO stock traded down $0.31 on Friday, hitting $67.95. 23,968,643 shares of the stock were exchanged, compared to its average volume of 14,052,755. 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 firm has a market capitalization of $292.41 billion, a PE ratio of 24.09, a P/E/G ratio of 3.55 and a beta of 0.43. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The firm's 50 day moving average is $69.65 and its two-hundred day moving average is $70.48.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm'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 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business 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 of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. CocaCola's dividend payout ratio is 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.