CocaCola Company (The) $KO Stock Position Decreased by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC reduced its stake in CocaCola by 57.7%, owning now 19,941 shares valued at approximately $1.4 million after selling 27,203 shares in the first quarter.
• CEO James Quincey sold 266,403 shares for about $19.2 million, resulting in a 49.12% decrease in his ownership of CocaCola stock.
• Several brokerages have adjusted their target prices and ratings for CocaCola, with UBS decreasing the target price to $84, while JPMorgan raised theirs to $79, indicating a generally positive outlook for the stock.

Truvestments Capital LLC decreased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 57.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,941 shares of the company's stock after selling 27,203 shares during the period. Truvestments Capital LLC's holdings in CocaCola were worth $1,428,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in KO. Brighton Jones LLC increased its holdings in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after acquiring an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after acquiring an additional 2,072 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of CocaCola by 59.6% during the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock valued at $310,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new position in shares of CocaCola during the 4th quarter valued at about $640,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This represents a 49.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the company'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 sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KO. UBS Group decreased their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note 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 research note on Monday, July 21st. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Trading Down 0.2%

CocaCola stock opened at $68.81 on Wednesday. The business has a 50 day moving average price of $69.80 and a two-hundred day moving average price of $70.47. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market cap of $296.12 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm 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 company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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 3.0%. The ex-dividend date is Monday, September 15th. 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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