CocaCola Company (The) $KO Stock Position Cut by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates LLC reduced its stake in CocaCola by 3.0% during the second quarter, now holding over 1 million shares worth approximately $71 million.
• The company announced a quarterly dividend of $0.51 per share to be paid on October 1st, representing an annualized dividend yield of 3.0%.
• Several analysts have set optimistic price targets for CocaCola, with an average target of $76.93, indicating a consensus rating of "Buy" among research analysts.

Douglas Lane & Associates LLC reduced its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,540 shares of the company's stock after selling 31,373 shares during the period. Douglas Lane & Associates LLC's holdings in CocaCola were worth $71,000,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KO. Brighton Jones LLC boosted its position in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after buying an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after buying an additional 2,072 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in CocaCola by 1.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 85,499 shares of the company's stock valued at $5,323,000 after buying an additional 1,256 shares in the last quarter. Finally, Scissortail Wealth Management LLC lifted its position in CocaCola by 20,077.8% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,632 shares of the company's stock valued at $226,000 after buying an additional 3,614 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have 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. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, UBS Group reduced their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $76.93.

CocaCola Stock Down 0.9%

Shares of NYSE KO traded down $0.62 during trading on Friday, reaching $67.00. 18,684,181 shares of the stock were exchanged, compared to its average volume of 16,302,069. 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 company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $288.35 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last released its 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 net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm'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. As a group, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.

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.