Capital Asset Advisory Services LLC Cuts Stake in CocaCola Company (The) $KO

Key Points

• Capital Asset Advisory Services LLC reduced its stake in Coca-Cola by 11.7%, selling off 8,007 shares during the second quarter, leaving it with 60,444 shares valued at approximately $4.33 million.
• Coca-Cola recently announced a quarterly dividend of $0.51, equating to an annualized dividend of $2.04 and a dividend yield of 3.0%, payable on October 1st.
• Several analysts have adjusted their price targets for Coca-Cola, with UBS Group lowering it to $80.00 while JPMorgan Chase increased theirs to $79.00, maintaining a positive outlook on the stock.

Capital Asset Advisory Services LLC reduced its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 11.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 60,444 shares of the company's stock after selling 8,007 shares during the quarter. Capital Asset Advisory Services LLC's holdings in CocaCola were worth $4,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new stake in CocaCola during the first quarter valued at about $25,000. 1248 Management LLC purchased a new stake in CocaCola during the first quarter valued at about $26,000. Garde Capital Inc. purchased a new stake in CocaCola during the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted 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 purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its holdings in CocaCola by 148.4% during 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 during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Trading Down 0.9%

Shares of KO opened at $67.00 on Friday. The business's 50-day moving average price is $69.29 and its 200-day moving average price is $70.37. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $288.35 billion, a PE ratio of 23.76, a P/E/G ratio of 3.52 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 announced 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. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The company's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts forecast that CocaCola Company will post 2.96 EPS 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 given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is 72.34%.

Analysts Set New Price Targets

Several research firms have commented on KO. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. upped 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 reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. 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. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and an average target price of $76.93.

Insider Buying and Selling at CocaCola

In related 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% 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.

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