Congress Park Capital LLC Lowers Stake in CocaCola Company (The) $KO

Key Points

• Congress Park Capital LLC reduced its stake in CocaCola by 61.2%, selling 5,846 shares and holding 3,700 shares worth approximately $262,000 after the sale.
• CocaCola reported $0.87 earnings per share (EPS) for the last quarter, surpassing the estimate of $0.83 and achieving a 2.5% year-over-year revenue increase to $12.50 billion.
• The company announced a quarterly dividend of $0.51 per share, which will be paid on October 1st, with a dividend yield of 3.1%.

Congress Park Capital LLC trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 61.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,700 shares of the company's stock after selling 5,846 shares during the period. Congress Park Capital LLC's holdings in CocaCola were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter worth about $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola in the first quarter worth about $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola in the first quarter worth about $30,000. Mizuho Securities Co. Ltd. lifted its position in shares of CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its position in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Trading Up 0.6%

Shares of KO traded up $0.43 during mid-day trading on Tuesday, reaching $66.64. 8,446,181 shares of the company's stock traded hands, compared to its average volume of 16,949,826. The stock has a market cap of $286.78 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.46 and a beta of 0.43. The stock's 50-day moving average is $68.87 and its two-hundred day moving average is $70.18. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98.

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

CocaCola Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective 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 reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Finally, UBS Group reduced their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $76.93.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company's stock.

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.