CocaCola Company (The) $KO Shares Sold by First Merchants Corp

Key Points

• First Merchants Corp reduced its stake in Coca-Cola by 26.3% during Q2, now holding 26,591 shares worth approximately $1.88 million.
• Insider Nikolaos Koumettis sold 37,396 shares of Coca-Cola at an average price of $69.10, decreasing his position by 15.15%.
• Coca-Cola's latest quarterly earnings showed a net margin of 25.89% and a return on equity of 44.91%, reporting $0.87 EPS, surpassing the estimated $0.83.

First Merchants Corp cut its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 26.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,591 shares of the company's stock after selling 9,481 shares during the period. First Merchants Corp's holdings in CocaCola were worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Sage Financial Management Group Inc. purchased a new position in CocaCola in the 1st quarter valued at about $216,000. Perigon Wealth Management LLC lifted its stake in CocaCola by 3.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after buying an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after buying an additional 1,794,561 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares in the last quarter. Finally, Roundview Capital LLC lifted its stake in CocaCola by 9.1% in the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company's stock worth $2,474,000 after purchasing an additional 2,923 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.97% of the company's stock.

CocaCola Stock Down 1.0%

KO stock opened at $66.10 on Thursday. The firm has a market cap of $284.47 billion, a PE 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. The firm's 50 day moving average price is $68.13 and its 200-day moving average price is $69.88. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

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

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their target price 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. UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock 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 stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target 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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