Flputnam Investment Management Co. Trims Holdings in CocaCola Company (The) $KO

Key Points

• Flputnam Investment Management Co. reduced its CocaCola stake by 3.1% in the first quarter, holding 154,496 shares worth $11,065,000 after selling 4,879 shares.
• CocaCola reported an earnings per share (EPS) of $0.87 for the last quarter, exceeding the consensus estimate of $0.83, while quarterly revenue was $12.50 billion.
• The company declared a quarterly dividend of $0.51 per share, scheduled for payment on October 1st, representing a 3.0% annualized dividend yield.

Flputnam Investment Management Co. lessened its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,496 shares of the company's stock after selling 4,879 shares during the period. Flputnam Investment Management Co.'s holdings in CocaCola were worth $11,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Financial Management Group Inc. purchased a new stake in shares of CocaCola in the first quarter worth $216,000. Cornerstone Wealth Management LLC raised its position in shares of CocaCola by 3.3% in 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. raised its position in shares of CocaCola by 31.8% in 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 in the first quarter worth $216,000. Finally, Investors Research Corp raised its position in shares of CocaCola by 21.5% in 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.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $76.00 price objective 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 note on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, CocaCola presently has an average rating of "Buy" and an average price target of $77.21.

CocaCola Trading Down 0.4%

Shares of KO traded down $0.31 during trading hours on Friday, hitting $67.95. The company had a trading volume of 23,968,643 shares, compared to its average volume of 14,052,755. The firm has a market cap of $292.41 billion, a P/E ratio of 24.09, a P/E/G ratio of 3.55 and a beta of 0.43. The stock's 50 day moving average price is $69.65 and its 200 day moving average price is $70.48. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 3.0%. CocaCola's 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.