Forvis Mazars Wealth Advisors LLC Sells 20,099 Shares of CocaCola Company (The) $KO

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its stake in CocaCola by 26.8%, selling 20,099 shares and now holding 54,813 shares valued at $3.93 million.
• Several institutional investors have increased their positions in CocaCola, with EverSource Wealth Advisors raising their stake by 61.8%, owning 26,133 shares valued at approximately $1.87 million.
• CocaCola recently declared a quarterly dividend of $0.51 per share, reflecting an annualized dividend of $2.04 and a yield of 2.9%.

Forvis Mazars Wealth Advisors LLC lowered its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 26.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,813 shares of the company's stock after selling 20,099 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in CocaCola were worth $3,926,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in CocaCola during the first quarter valued at about $1,508,657,000. Capital International Investors raised its stake in shares of CocaCola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares in the last quarter. Boston Partners purchased a new stake in shares of CocaCola during the 1st quarter worth about $642,183,000. GAMMA Investing LLC increased its holdings in shares of CocaCola by 8,419.4% during the 1st quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock valued at $426,927,000 after acquiring an additional 5,891,034 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of CocaCola by 119.0% during the 4th quarter. Capital Research Global Investors now owns 9,458,248 shares of the company's stock valued at $588,871,000 after acquiring an additional 5,139,352 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 37,396 shares of the 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 of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

CocaCola Trading Up 0.9%

Shares of KO traded up $0.6450 during trading hours on Wednesday, hitting $70.7750. 10,963,006 shares of the stock traded hands, compared to its average volume of 16,824,295. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $304.59 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.44. The business has a fifty day moving average of $69.92 and a 200-day moving average of $70.24.

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, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during 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 firm's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio is 72.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley reissued an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. 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. UBS Group dropped their price target on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, 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 report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $77.21.

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.