CocaCola Company (The) $KO Shares Sold by Stock Yards Bank & Trust Co.

Key Points

• Stock Yards Bank & Trust Co. reduced its holdings in Coca-Cola by 2.1%, selling 5,140 shares, bringing its total ownership to 239,821 shares valued at approximately $16.97 million.
• Notable institutional activity included Mizuho Securities increasing its stake by 360%, and multiple investors acquiring new positions in the company during the first quarter of 2023.
• Despite a recent quarterly earnings beat, analysts have varied price targets for Coca-Cola, with a consensus price target of $76.93 and 15 analysts rating the stock as a "Buy."

Stock Yards Bank & Trust Co. cut its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,821 shares of the company's stock after selling 5,140 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in CocaCola were worth $16,967,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in shares of CocaCola during the first quarter worth about $25,000. 1248 Management LLC acquired a new position in shares of CocaCola during the first quarter worth about $26,000. Garde Capital Inc. acquired a new position in shares of CocaCola during the first quarter worth about $30,000. Mizuho Securities Co. Ltd. increased its stake in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC increased its stake in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KO shares. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their price target 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 dropped their price target 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. Weiss Ratings reissued a "buy (b-)" rating on shares of CocaCola in a report on Saturday, September 27th. Finally, Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. One 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.com, the stock has an average rating of "Buy" and a consensus price target of $76.93.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the 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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

CocaCola Stock Up 0.8%

KO stock opened at $66.65 on Friday. The company has a market cap of $286.86 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.45 and a beta of 0.43. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company's 50-day moving average price is $68.27 and its 200 day moving average price is $69.94. 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 (NYSE:KO - Get Free Report) last announced 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 the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. 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.

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