CocaCola Company (The) $KO Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in CocaCola Company by 4.2%, now owning 434,722 shares valued at approximately $30.76 million.
• CocaCola recently reported a quarterly earnings per share (EPS) of $0.87, exceeding analysts' expectations, and has set its fiscal year 2025 EPS guidance at 2.970.
• The company declared a quarterly dividend of $0.51 per share, resulting in an annualized dividend yield of 3.1%, with the ex-dividend date set for September 15th.

State of Alaska Department of Revenue lowered its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,722 shares of the company's stock after selling 18,900 shares during the quarter. State of Alaska Department of Revenue's holdings in CocaCola were worth $30,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after purchasing an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Amundi increased its stake in shares of CocaCola by 16.0% in the first 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 period. Finally, Nuveen LLC bought a new position in CocaCola during the first quarter valued at about $1,508,657,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Down 0.5%

CocaCola stock opened at $65.64 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $282.49 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.44 and a beta of 0.43. The firm's 50-day simple moving average is $68.58 and its 200 day simple moving average is $70.05. 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 (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The company 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 company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KO. UBS Group reduced 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. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $76.93.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's 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 transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.

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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