CocaCola Company (The) $KO Shares Purchased by Golden State Equity Partners

Key Points

• Golden State Equity Partners increased its stock position in CocaCola Company by 43.6% during the second quarter, bringing its Total holdings to $1.65 million worth of shares.
• The company's latest earnings report showed $0.87 earnings per share, surpassing the consensus estimate of $0.83, with revenues amounting to $12.50 billion.
• CocaCola announced a quarterly dividend of $0.51 per share, which will be paid on October 1st, representing an annual yield of 3.1%.

Golden State Equity Partners raised its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 43.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,364 shares of the company's stock after acquiring an additional 7,094 shares during the quarter. Golden State Equity Partners' holdings in CocaCola were worth $1,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brady Martz Wealth Solutions LLC lifted its holdings in shares of CocaCola by 1.0% during the 2nd quarter. Brady Martz Wealth Solutions LLC now owns 31,823 shares of the company's stock valued at $2,251,000 after purchasing an additional 326 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in CocaCola in the 2nd quarter worth $207,000. Foster Group Inc. raised its stake in CocaCola by 9.4% in the 2nd quarter. Foster Group Inc. now owns 6,971 shares of the company's stock worth $493,000 after acquiring an additional 601 shares during the last quarter. Financial Harvest LLC purchased a new position in CocaCola in the 2nd quarter worth $1,091,000. Finally, Armstrong Advisory Group Inc. raised its stake in CocaCola by 11.5% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 34,768 shares of the company's stock worth $2,460,000 after acquiring an additional 3,576 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly 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 document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KO shares. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. UBS Group reduced their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat, CocaCola currently has a consensus rating of "Buy" and a consensus target price of $76.93.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.16 during trading on Monday, reaching $66.27. 13,283,842 shares of the company's stock traded hands, compared to its average volume of 17,977,178. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market cap of $285.20 billion, a PE ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a 50-day simple moving average of $68.87 and a 200-day simple moving average of $70.18.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $12.55 billion. During the same period in the previous year, the firm posted $0.84 EPS. CocaCola's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

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

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.