GC Wealth Management RIA LLC Boosts Stock Position in CocaCola Company (The) $KO

Key Points

• GC Wealth Management RIA LLC increased its stake in CocaCola Company by 230.0% during the 2nd quarter, owning 39,655 shares valued at $2,806,000.
• CocaCola reported $0.87 earnings per share for the last quarter, exceeding analysts' expectations of $0.83, with a year-over-year revenue increase of 2.5%.
• The company recently declared a quarterly dividend of $0.51, with a yield of 3.1%, set to be paid to investors of record on September 15th.

GC Wealth Management RIA LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 230.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,655 shares of the company's stock after purchasing an additional 27,637 shares during the quarter. GC Wealth Management RIA LLC's holdings in CocaCola were worth $2,806,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in CocaCola in the first quarter valued at approximately $1,508,657,000. Wellington Management Group LLP boosted its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. Boston Partners purchased a new stake in shares of CocaCola in the 1st quarter valued at $642,183,000. Raymond James Financial Inc. boosted its holdings in shares of CocaCola by 47.4% in the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock valued at $848,315,000 after acquiring an additional 3,810,752 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in CocaCola by 497.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock valued at $321,548,000 after purchasing an additional 3,737,646 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of KO stock opened at $65.64 on Monday. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $282.49 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.42 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 business's 50 day moving average is $68.58 and its two-hundred day moving average is $70.06.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter last year, the firm posted $0.84 EPS. The business'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. Analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a report on Monday, June 9th. Wells Fargo & Company lowered their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group lowered their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. 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. Finally, BNP Paribas restated an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $76.93.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company's stock.

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.

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