CocaCola Company (The) $KO Shares Bought by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its stake in CocaCola Company by 22.7% during the first quarter, owning 36,729 shares valued at approximately $2.63 million.
• CocaCola reported earnings per share of $0.87, exceeding analysts' expectations of $0.83, and achieved a revenue of $12.50 billion for the quarter.
• The company will pay a quarterly dividend of $0.51 per share on October 1st, 2023, providing an annual yield of 3.0% with a payout ratio of 72.34%.

Belpointe Asset Management LLC grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,729 shares of the company's stock after purchasing an additional 6,784 shares during the quarter. Belpointe Asset Management LLC's holdings in CocaCola were worth $2,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the 1st quarter valued at about $25,000. Garde Capital Inc. acquired a new position in shares of CocaCola during the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its position in shares of CocaCola by 360.0% during the 1st 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 last quarter. Ridgewood Investments LLC boosted its position in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC boosted its position in shares of CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola Stock Down 0.1%

Shares of NYSE:KO opened at $67.83 on Thursday. The firm's 50-day moving average is $69.45 and its two-hundred day moving average is $70.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm has a market capitalization of $291.90 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its 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. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the prior year, the firm earned $0.84 EPS. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Insiders Place Their Bets

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 transaction of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on KO. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reissued 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. boosted 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. UBS Group reduced their price objective on shares of 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 issued a $81.00 price objective on shares of CocaCola in a 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, the stock presently has an average rating of "Buy" and an average target price of $77.21.

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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