CocaCola Company (The) $KO Shares Sold by Traveka Wealth LLC

Key Points

• Traveka Wealth LLC reduced its stake in CocaCola by 12.6% during Q2 2023, retaining 50,957 shares valued at approximately $3.6 million.
• CocaCola's recent earnings report indicated $0.87 earnings per share and a net margin of 25.89%, beating analysts' estimates by $0.04.
• The company declared a quarterly dividend of $0.51, with a payout ratio of 72.34% and an annualized yield of 3.1%.

Traveka Wealth LLC trimmed its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,957 shares of the company's stock after selling 7,319 shares during the quarter. CocaCola accounts for approximately 1.9% of Traveka Wealth LLC's portfolio, making the stock its 17th largest holding. Traveka Wealth LLC's holdings in CocaCola were worth $3,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares in the last quarter. Two Sigma Investments LP boosted its holdings in CocaCola by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 48,000 shares of the company's stock worth $2,988,000 after buying an additional 621 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in CocaCola by 26.8% during the fourth quarter. Centaurus Financial Inc. now owns 35,006 shares of the company's stock worth $2,179,000 after buying an additional 7,394 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its holdings in CocaCola by 4.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,213 shares of the company's stock worth $885,000 after buying an additional 600 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

NYSE:KO opened at $66.00 on Friday. The firm has a 50 day simple moving average of $68.67 and a 200-day simple moving average of $70.09. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm has a market cap of $284.06 billion, a PE ratio of 23.41, a P/E/G ratio of 3.46 and a beta of 0.43. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during 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 revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. 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 report on Thursday, September 11th. Wells Fargo & Company reduced their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Two investment 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.com, CocaCola presently has an average rating of "Buy" and a consensus target price of $76.93.

Insider Buying and Selling at CocaCola

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 shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Company 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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