InvesTrust Sells 53,101 Shares of CocaCola Company (The) $KO

Key Points

• InvesTrust reduced its stake in CocaCola Company (KO) by 60.3% in Q2, holding 34,992 shares valued at approximately $2.48 million after selling over 53,000 shares during the period.
• The company recently announced a quarterly dividend of $0.51 per share, representing an annualized yield of 3.0%, to be paid on October 1st.
• CocaCola's stock has a current market capitalization of $288.35 billion and is projected to have an EPS of 2.96 for the current year according to analysts.

InvesTrust reduced its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 60.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 34,992 shares of the company's stock after selling 53,101 shares during the period. InvesTrust's holdings in CocaCola were worth $2,476,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sage Financial Management Group Inc. bought a new stake in shares of CocaCola during the 1st quarter worth $216,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CocaCola by 6.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. Cornerstone Wealth Management LLC raised its position in CocaCola by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the period. IFM Investors Pty Ltd raised its position in CocaCola by 0.5% in the 1st quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company's stock worth $54,635,000 after purchasing an additional 3,837 shares during the period. Finally, Advisors Capital Management LLC raised its position in CocaCola by 37.7% in the 1st quarter. Advisors Capital Management LLC now owns 471,034 shares of the company's stock worth $33,735,000 after purchasing an additional 128,852 shares during the period. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on KO. JPMorgan Chase & Co. lifted their target price 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. UBS Group decreased their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. 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. Two analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, CocaCola currently has an average rating of "Buy" and a consensus target price of $76.93.

CocaCola Trading Down 0.9%

Shares of KO stock traded down $0.62 during mid-day trading on Friday, reaching $67.00. The stock had a trading volume of 18,684,181 shares, compared to its average volume of 16,302,069. The stock's 50-day moving average price is $69.29 and its two-hundred day moving average price is $70.37. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The firm has a market capitalization of $288.35 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.49 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.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

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 paid a dividend of $0.51 per share. 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 payout ratio is presently 72.34%.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 sale, the insider owned 209,513 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 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.