Galvin Gaustad & Stein LLC Has $22.72 Million Holdings in CocaCola Company (The) $KO

Key Points

• Galvin Gaustad & Stein LLC increased its stake in Coca-Cola by 3.9% during Q2, bringing its total holdings to $22.72 million and making Coca-Cola its 15th largest investment.
• Coca-Cola reported earnings of $0.87 per share, exceeding analysts' expectations, with a revenue of $12.50 billion for the quarter, marking a 2.5% year-over-year increase.
• The company declared a quarterly dividend of $0.51 per share, resulting in an annualized dividend yield of 3.1%.

Galvin Gaustad & Stein LLC grew its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,136 shares of the company's stock after purchasing an additional 12,089 shares during the period. CocaCola comprises about 2.0% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 15th biggest position. Galvin Gaustad & Stein LLC's holdings in CocaCola were worth $22,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the 1st quarter worth $25,000. 1248 Management LLC acquired a new stake in CocaCola in the 1st quarter worth $26,000. Garde Capital Inc. acquired a new stake in CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC lifted its holdings in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KO. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a report on Wednesday. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. Finally, UBS Group reduced their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to MarketBeat, CocaCola has a consensus rating of "Buy" and an average price target of $76.93.

CocaCola Trading Up 0.3%

Shares of NYSE KO opened at $66.30 on Friday. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $285.33 billion, a PE ratio of 23.51, a P/E/G ratio of 3.44 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average of $68.09 and a two-hundred day moving average of $69.86.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $12.55 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company'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. As a group, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.51 per share. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's payout ratio is currently 72.34%.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on 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 completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

About CocaCola

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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