Janney Montgomery Scott LLC Decreases Stock Holdings in CocaCola Company (The) $KO

Key Points

• Janney Montgomery Scott LLC has reduced its holdings in CocaCola Company by 4.4%, now owning approximately 1.52 million shares worth about $107.86 million after selling 70,904 shares.
• CocaCola has announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.1%, set to be paid on October 1st.
• Despite a slight revenue miss in its latest earnings report, CocaCola's earnings per share of $0.87 exceeded analysts' expectations, and the company has projected 2.96 EPS for FY 2025.

Janney Montgomery Scott LLC trimmed its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,524,492 shares of the company's stock after selling 70,904 shares during the period. Janney Montgomery Scott LLC's holdings in CocaCola were worth $107,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. Brighton Jones LLC increased its holdings in CocaCola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after buying an additional 293 shares during the last quarter. Mirador Capital Partners LP purchased a new stake in CocaCola during the first quarter valued at approximately $341,000. Baker Tilly Wealth Management LLC increased its holdings in CocaCola by 16.7% during the first quarter. Baker Tilly Wealth Management LLC now owns 19,303 shares of the company's stock valued at $1,382,000 after buying an additional 2,758 shares during the last quarter. Finally, Aua Capital Management LLC purchased a new stake in CocaCola during the first quarter valued at approximately $201,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

CocaCola Price Performance

Shares of NYSE:KO opened at $66.00 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The firm has a fifty day moving average price of $68.50 and a 200 day moving average price of $70.04. 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 $284.04 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 3.42 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share 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 during the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. CocaCola'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, sell-side analysts expect that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola's dividend payout ratio is currently 72.34%.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction 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 transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. 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. BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. Wells Fargo & Company reduced their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to MarketBeat, CocaCola presently has an average rating of "Buy" and an average target price 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.

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