CocaCola Company (The) $KO Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in CocaCola by 5.9%, selling 9,672 shares, and now holds 152,916 shares valued at approximately $10.82 million.
• Various hedge funds have made significant changes to their holdings in CocaCola, with Wellington Management Group LLP increasing its position by 52.7%, now owning shares valued at approximately $3.4 billion.
• CocaCola announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 3.1%, with a current payout ratio of 72.34%.

Prime Capital Investment Advisors LLC cut its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,916 shares of the company's stock after selling 9,672 shares during the period. Prime Capital Investment Advisors LLC's holdings in CocaCola were worth $10,819,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in CocaCola during the 1st quarter valued at approximately $1,508,657,000. Wellington Management Group LLP lifted its position in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the period. Boston Partners purchased a new stake in CocaCola in the first quarter valued at $642,183,000. Raymond James Financial Inc. grew its position in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after purchasing an additional 3,810,752 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of CocaCola by 497.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock valued at $321,548,000 after buying an additional 3,737,646 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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 transaction of $2,584,063.60. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research report on Saturday, September 27th. Finally, Wells Fargo & Company reduced their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $76.93.

CocaCola Trading Up 0.8%

KO stock opened at $66.65 on Monday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business's 50-day moving average is $68.27 and its 200 day moving average is $69.95. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The stock has a market cap of $286.86 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.47 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 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 the consensus estimate of $12.55 billion. During the same quarter last year, the business posted $0.84 earnings per share. 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. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

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

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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