Curi RMB Capital LLC Reduces Position in CocaCola Company (The) $KO

Key Points

• Curi RMB Capital LLC reduced its stake in CocaCola Company by 6.4%, now holding 82,332 shares valued at $5,916,000 following the sale of 5,628 shares.
• Despite Curi's reduction, several other institutional investors increased their stakes in CocaCola, with notable growth from Clark Capital Management, which raised its holdings by 31.8%.
• CocaCola recently reported an EPS of $0.87 for the last quarter, surpassing estimates, and has announced a quarterly dividend of $0.51 per share scheduled for payment on October 1st.

Curi RMB Capital LLC decreased its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,332 shares of the company's stock after selling 5,628 shares during the quarter. Curi RMB Capital LLC's holdings in CocaCola were worth $5,916,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sage Financial Management Group Inc. purchased a new stake in shares of CocaCola during the first quarter worth $216,000. Cornerstone Wealth Management LLC grew its holdings in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after buying an additional 3,920 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after buying an additional 204,681 shares in the last quarter. Fosun International Ltd purchased a new stake in shares of CocaCola during the first quarter worth $216,000. Finally, Investors Research Corp grew its holdings in shares of CocaCola by 21.5% during the first quarter. Investors Research Corp now owns 10,419 shares of the company's stock worth $746,000 after buying an additional 1,846 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. 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, Morgan Stanley reissued an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $77.21.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company's stock.

CocaCola Trading Down 1.1%

NYSE KO opened at $68.26 on Friday. The firm's 50-day moving average is $69.70 and its two-hundred day moving average is $70.49. 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. The stock has a market capitalization of $293.78 billion, a P/E ratio of 24.21, a PEG ratio of 3.59 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted 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. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. CocaCola's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

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

CocaCola Company 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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