CocaCola Company (The) $KO Stock Position Lowered by Guinness Asset Management LTD

Key Points

• Guinness Asset Management LTD has reduced its stake in CocaCola by 2.6%, currently holding approximately $224.59 million worth of shares.
• The company's most recent earnings report showed a profit of $0.87 EPS, exceeding expectations of $0.83, with quarterly revenue up 2.5% year-over-year.
• CocaCola has announced a quarterly dividend of $0.51 per share, reflecting an annualized yield of 3.0%, with a current payout ratio of 72.34%.

Guinness Asset Management LTD cut its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,138,333 shares of the company's stock after selling 84,053 shares during the period. CocaCola comprises about 4.3% of Guinness Asset Management LTD's holdings, making the stock its 8th largest position. Guinness Asset Management LTD owned about 0.07% of CocaCola worth $224,586,000 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 raised its stake in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CocaCola by 5.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,448 shares of the company's stock valued at $26,737,000 after purchasing an additional 20,287 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in CocaCola by 6.5% in the 4th quarter. ProShare Advisors LLC now owns 3,494,281 shares of the company's stock valued at $217,554,000 after purchasing an additional 211,969 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Stock Down 0.3%

Shares of NYSE:KO opened at $67.62 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market capitalization of $291.01 billion, a P/E ratio of 23.98, a PEG ratio of 3.53 and a beta of 0.43. The stock has a 50-day simple moving average of $69.38 and a 200-day simple moving average of $70.40.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts forecast that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola's payout ratio is presently 72.34%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction 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. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KO shares. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.93.

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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