DoubleLine ETF Adviser LP Cuts Stake in CocaCola Company (The) $KO

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in CocaCola Company by 24.1%, selling 22,327 shares and retaining 70,252 shares, valued at approximately $5,031,000.
• CocaCola's recent quarterly earnings report showed a net margin of 25.89% and earnings per share of $0.87, exceeding analysts' expectations.
• The company has declared a quarterly dividend of $0.51, with an annualized dividend yield of 3.0%, scheduled for payment on October 1st.

DoubleLine ETF Adviser LP decreased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,252 shares of the company's stock after selling 22,327 shares during the period. CocaCola accounts for 1.7% of DoubleLine ETF Adviser LP's holdings, making the stock its 12th biggest position. DoubleLine ETF Adviser LP's holdings in CocaCola were worth $5,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clark Capital Management Group Inc. grew its position in CocaCola by 89.3% during the 1st quarter. Clark Capital Management Group Inc. now owns 1,607,314 shares of the company's stock worth $115,116,000 after purchasing an additional 758,446 shares during the last quarter. Banque Transatlantique SA grew its position in CocaCola by 267.7% during the 1st quarter. Banque Transatlantique SA now owns 269,168 shares of the company's stock worth $17,815,000 after purchasing an additional 195,966 shares during the last quarter. Advisors Asset Management Inc. grew its position in 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 grew its position in 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. Finally, Amundi grew its position in 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. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on KO. BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target 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. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $77.21.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

CocaCola stock traded down $0.31 during mid-day trading on Friday, hitting $67.95. The company had a trading volume of 23,968,643 shares, 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. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company's fifty day moving average is $69.65 and its 200-day moving average is $70.48. The company has a market capitalization of $292.41 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 3.54 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 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 business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The business's quarterly 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. Equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is currently 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.