CocaCola Company (The) $KO Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC has reduced its stake in Coca-Cola Company by 16.6% during the first quarter, selling 167,089 shares, and now holds approximately 0.6% of its portfolio in Coca-Cola.
• Coca-Cola's CEO, James Quincey, sold 266,403 shares, indicating a significant 49.12% decrease in his ownership following the transaction.
• The company recently announced a quarterly dividend of $0.51 per share, which will be payable on October 1st, representing a 3.0% yield for investors.

Guggenheim Capital LLC lessened its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 836,938 shares of the company's stock after selling 167,089 shares during the quarter. CocaCola makes up 0.6% of Guggenheim Capital LLC's holdings, making the stock its 27th biggest position. Guggenheim Capital LLC's holdings in CocaCola were worth $59,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in CocaCola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock worth $25,869,202,000 after buying an additional 1,114,422 shares during the period. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first 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. Nuveen LLC bought a new stake in shares of CocaCola during the first quarter worth about $1,508,657,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CocaCola by 5.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,133,745 shares of the company's stock worth $1,155,499,000 after purchasing an additional 866,773 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of CocaCola by 8.0% during the first quarter. Deutsche Bank AG now owns 13,376,070 shares of the company's stock worth $957,994,000 after purchasing an additional 988,201 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company'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 sale, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KO has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reiterated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. upped 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. Finally, UBS Group lowered their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CocaCola presently has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Up 1.0%

Shares of NYSE KO traded up $0.65 during mid-day trading on Friday, hitting $69.01. 14,595,565 shares of the stock traded hands, compared to its average volume of 16,733,939. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market cap of $297.00 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 3.58 and a beta of 0.44. The stock has a fifty day moving average price of $69.78 and a 200-day moving average price of $70.48.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm's quarterly 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. Research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 3.0%. CocaCola's dividend payout ratio is 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.