CocaCola Company (The) $KO Shares Sold by Versor Investments LP

Key Points

• Versor Investments LP reduced its position in CocaCola shares by 54.1%, now holding 8,255 shares worth approximately $591,000 after selling 9,745 shares in the first quarter.
• Analysts have provided positive ratings for CocaCola, with multiple firms raising their price targets, including JPMorgan Chase and Royal Bank of Canada, indicating strong confidence in the stock.
• The company recently announced a quarterly dividend of $0.51 per share, scheduled for payment on October 1st, which reflects an annualized yield of 2.9%.

Versor Investments LP reduced its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,255 shares of the company's stock after selling 9,745 shares during the period. Versor Investments LP's holdings in CocaCola were worth $591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $25,000. Garde Capital Inc. purchased a new stake in CocaCola during the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. raised its holdings in CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC lifted its stake in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KO shares. JPMorgan Chase & Co. increased their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. BNP Paribas reissued an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Finally, UBS Group cut their price objective on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $77.21.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

CocaCola Stock Up 1.4%

Shares of KO opened at $70.1050 on Wednesday. The company's 50-day moving average price is $69.92 and its 200 day moving average price is $70.24. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. 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 firm has a market cap of $301.71 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 3.60 and a beta of 0.44.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. The company 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%. CocaCola's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola's payout ratio is presently 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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