Harvest Portfolios Group Inc. increased its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 304,422 shares of the company's stock after purchasing an additional 25,105 shares during the period. Harvest Portfolios Group Inc.'s holdings in CocaCola were worth $21,803,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in CocaCola during the 1st quarter worth about $25,000. Garde Capital Inc. bought a new stake in CocaCola during the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. lifted its position in 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 buying an additional 360 shares in the last quarter. Ridgewood Investments LLC lifted its position in CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC lifted its position in CocaCola by 57.5% during the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after buying an additional 208 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity at CocaCola
In related news, CEO James Quincey sold 266,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer owned 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 37,396 shares of the firm's 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. This represents a 15.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.
CocaCola Stock Performance
Shares of NYSE:KO opened at $68.96 on Tuesday. The company's 50 day moving average price is $69.81 and its two-hundred day moving average price is $70.48. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $296.78 billion, a PE ratio of 24.45, a PEG ratio of 3.65 and a beta of 0.44. 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 (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, 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 firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business'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. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.
CocaCola Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.
Analyst Upgrades and Downgrades
KO has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, UBS Group lowered their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $77.21.
Get Our Latest Report on KO
CocaCola Company Profile
(
Free Report)
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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