Financial Harvest LLC Buys New Position in CocaCola Company (The) $KO

Key Points

• Financial Harvest LLC acquired a new stake in CocaCola, purchasing 15,417 shares valued at approximately $1,091,000, making it the firm's 18th largest holding.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, resulting in a 15.15% decrease in their ownership position.
• CocaCola plans to pay a quarterly dividend of $0.51 per share on October 1st, reflecting an annualized yield of 3.1% and a payout ratio of 72.34%.

Financial Harvest LLC bought a new stake in CocaCola Company (The) (NYSE:KO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,417 shares of the company's stock, valued at approximately $1,091,000. CocaCola comprises about 0.8% of Financial Harvest LLC's holdings, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Brighton Jones LLC raised its position 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 buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its position 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 buying an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position 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 buying an additional 2,072 shares during the last quarter. Two Sigma Investments LP raised its position in CocaCola by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 48,000 shares of the company's stock valued at $2,988,000 after buying an additional 621 shares during the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in CocaCola in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company'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 sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

CocaCola Price Performance

Shares of KO opened at $66.52 on Monday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business has a 50-day simple moving average of $68.93 and a two-hundred day simple moving average of $70.21. 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 $286.28 billion, a PE ratio of 23.59, a PEG ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating 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 company had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. 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. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's dividend payout ratio is presently 72.34%.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.93.

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.

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CocaCola Company (The) (NYSE:KO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.