Evanson Asset Management LLC Makes New Investment in CocaCola Company (The) $KO

Key Points

• Evanson Asset Management LLC has acquired a new position in CocaCola Company, purchasing 4,875 shares valued at approximately $345,000 in the second quarter.
• Insider Nikolaos Koumettis sold 37,396 shares, reducing his ownership by 15.15%, which now values his remaining shares at over $14 million.
• The CocaCola Company announced a quarterly dividend of $0.51 per share, yielding 3.1%, with payments set to be issued on October 1st.

Evanson Asset Management LLC acquired a new position in CocaCola Company (The) (NYSE:KO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,875 shares of the company's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola in the first quarter worth $25,000. 1248 Management LLC purchased a new stake in CocaCola in the first quarter worth $26,000. Garde Capital Inc. purchased a new stake in CocaCola in the first quarter worth $30,000. Mizuho Securities Co. Ltd. increased its position in 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 during the last quarter. Finally, Ridgewood Investments LLC increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In related 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 transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by insiders.

CocaCola Stock Down 0.5%

Shares of NYSE KO opened at $66.40 on Thursday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The business has a 50-day simple moving average of $68.76 and a two-hundred day simple moving average of $70.13. 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 company has a market cap of $285.74 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.47 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, topping the consensus estimate 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 period in the previous year, the business earned $0.84 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. 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 report on Wednesday, July 23rd. 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. UBS Group decreased their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price 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 objective on shares of CocaCola in a report on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, CocaCola presently has a consensus rating of "Buy" and a consensus price target of $76.93.

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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