CocaCola Company (The) $KO Stake Trimmed by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in CocaCola by 1.0% in Q2, now holding approximately 15.4 million shares, which represent 1.6% of its portfolio.
• Several institutional investors, including Westhampton Capital LLC and Union Bancaire Privee UBP SA, increased their holdings in CocaCola during the same quarter.
• CocaCola announced a quarterly dividend of $0.51, with an annualized yield of 3.1%, scheduled for payment on October 1st.

Truist Financial Corp lowered its position in CocaCola Company (The) (NYSE:KO - Free Report) by 1.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,402,656 shares of the company's stock after selling 158,673 shares during the period. CocaCola accounts for approximately 1.6% of Truist Financial Corp's portfolio, making the stock its 9th biggest holding. Truist Financial Corp owned approximately 0.36% of CocaCola worth $1,089,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westhampton Capital LLC lifted its holdings in CocaCola by 14.3% in the 2nd quarter. Westhampton Capital LLC now owns 25,638 shares of the company's stock valued at $1,814,000 after purchasing an additional 3,200 shares in the last quarter. Union Bancaire Privee UBP SA increased its stake in shares of CocaCola by 13.2% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 575,864 shares of the company's stock worth $40,742,000 after acquiring an additional 67,258 shares during the last quarter. Chicago Capital LLC increased its stake in shares of CocaCola by 1.2% in the 2nd quarter. Chicago Capital LLC now owns 77,918 shares of the company's stock worth $5,513,000 after acquiring an additional 919 shares during the last quarter. Trivium Point Advisory LLC increased its stake in shares of CocaCola by 3.3% in the 2nd quarter. Trivium Point Advisory LLC now owns 19,290 shares of the company's stock worth $1,365,000 after acquiring an additional 623 shares during the last quarter. Finally, Spectrum Strategic Capital Management LLC acquired a new stake in shares of CocaCola in the 2nd quarter worth $1,049,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of a number of recent research reports. UBS Group cut their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company cut their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. 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. Finally, Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. One 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.com, the stock currently has a consensus rating of "Buy" and an average target price of $76.93.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 completion of the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company's stock.

CocaCola Stock Performance

Shares of KO opened at $66.34 on Wednesday. The stock has a 50-day simple moving average of $68.43 and a 200-day simple moving average of $70.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market capitalization of $285.51 billion, a PE ratio of 23.52, a PEG ratio of 3.44 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 announced its quarterly earnings data 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 business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

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