CocaCola Company (The) $KO Shares Acquired by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management LLC increased its stake in CocaCola Company by 3.6%, acquiring an additional 4,469 shares during the second quarter, bringing its total holdings to 130,164 shares valued at approximately $9.2 million.
• Company insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, representing a 15.15% decrease in ownership.
• CocaCola's recent quarterly earnings exceeded expectations with $0.87 EPS, while the company also announced a quarterly dividend of $0.51, yielding approximately 3.1% for shareholders.

Perigon Wealth Management LLC increased its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,164 shares of the company's stock after acquiring an additional 4,469 shares during the period. Perigon Wealth Management LLC's holdings in CocaCola were worth $9,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Republic Capital LLC raised its stake in shares of CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC raised its stake in shares of CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares during the period. MBA Advisors LLC raised its stake in shares of CocaCola by 1.2% during the first quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares during the period. Finally, BXM Wealth LLC raised its stake in shares of CocaCola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after purchasing an additional 144 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on 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 transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company's stock.

CocaCola Price Performance

Shares of KO opened at $66.40 on Thursday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company has a market capitalization of $285.74 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. The business has a 50-day moving average of $68.76 and a 200-day moving average of $70.13.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same period last year, the company earned $0.84 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 72.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted 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. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, CocaCola has an average 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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