CocaCola Company (The) $KO Shares Purchased by Leo Wealth LLC

Key Points

• Leo Wealth LLC increased its holdings in Coca-Cola Company (KO) by 70.8% during the second quarter, totaling 31,360 shares valued at $2.22 million.
• Coca-Cola reported $0.87 EPS for the last quarter, exceeding expectations, while its revenue was $12.50 billion, up 2.5% year-over-year.
• The company declared a quarterly dividend of $0.51 per share, equating to an annualized yield of 3.1% with a payout ratio of 72.34%.

Leo Wealth LLC boosted its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 70.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,360 shares of the company's stock after buying an additional 12,994 shares during the period. Leo Wealth LLC's holdings in CocaCola were worth $2,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Armstrong Fleming & Moore Inc boosted its stake in CocaCola by 19.6% in the 2nd quarter. Armstrong Fleming & Moore Inc now owns 8,463 shares of the company's stock worth $599,000 after buying an additional 1,386 shares during the last quarter. Tectonic Advisors LLC boosted its stake in CocaCola by 8.5% in the 2nd quarter. Tectonic Advisors LLC now owns 133,082 shares of the company's stock worth $9,416,000 after buying an additional 10,472 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in CocaCola by 1.5% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 10,854 shares of the company's stock worth $768,000 after buying an additional 165 shares during the last quarter. InTrack Investment Management Inc boosted its stake in CocaCola by 4.0% in the 2nd quarter. InTrack Investment Management Inc now owns 13,496 shares of the company's stock worth $955,000 after buying an additional 520 shares during the last quarter. Finally, Cohen Investment Advisors LLC raised its holdings in shares of CocaCola by 3.9% in the 2nd quarter. Cohen Investment Advisors LLC now owns 41,102 shares of the company's stock worth $2,908,000 after purchasing an additional 1,529 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola Stock Performance

Shares of NYSE:KO opened at $66.10 on Thursday. The company has a market cap of $284.47 billion, a P/E ratio of 23.44, a PEG ratio of 3.48 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The business's 50-day simple moving average is $68.13 and its 200 day simple moving average is $69.88.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the business earned $0.84 EPS. CocaCola's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's payout ratio is currently 72.34%.

Insider Transactions at CocaCola

In other CocaCola 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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company cut their price objective on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.93.

CocaCola Company 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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