Intech Investment Management LLC Lowers Stake in CocaCola Company (The) $KO

Key Points

• Intech Investment Management LLC decreased its position in CocaCola by 13.8% during the 1st quarter, selling 34,801 shares and now holding 217,595 shares valued at approximately $15.58 million.
• CocaCola is set to pay a quarterly dividend of $0.51 per share on October 1st, 2023, with a current dividend yield of 3.0%.
• Analysts have a consensus "Buy" rating on CocaCola stock, with a target price averaging $77.21, while the stock recently opened at $67.95.

Intech Investment Management LLC reduced its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,595 shares of the company's stock after selling 34,801 shares during the quarter. Intech Investment Management LLC's holdings in CocaCola were worth $15,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MorganRosel Wealth Management LLC bought a new position in CocaCola in the first quarter worth approximately $25,000. Garde Capital Inc. bought a new position in shares of CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after acquiring an additional 360 shares during the last quarter. Ridgewood Investments LLC grew its holdings in CocaCola by 148.4% in 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 last quarter. Finally, REAP Financial Group LLC boosted its holdings in CocaCola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

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 completion of the sale, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.97% of the company's stock.

CocaCola Price Performance

KO stock traded down $0.62 during trading on Friday, hitting $67.00. The company had a trading volume of 18,684,181 shares, compared to its average volume of 16,929,980. 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 firm has a market capitalization of $288.35 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.53 and a beta of 0.43. The business has a 50 day moving average of $69.38 and a 200 day moving average of $70.40. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released 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 company had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company's revenue for the quarter 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, research 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. Shareholders 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 yield of 3.0%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KO shares. Morgan Stanley reissued an "overweight" rating and set a $81.00 price target 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 stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday. Finally, BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Two investment 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 has an average rating of "Buy" and an average price target of $76.93.

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.