Katamaran Capital LLP Lowers Stake in CocaCola Company (The) $KO

Key Points

• Katamaran Capital LLP has reduced its stake in Coca-Cola by 11.2%, selling 6,105 shares, which now brings its total holdings to 48,415 shares valued at approximately $3.4 million.
• Analysts have mixed views on Coca-Cola's stock, with a target price range between $75.00 and $84.00, but the consensus rating remains a Buy.
• Coca-Cola recently announced a quarterly dividend of $0.51 per share, representing an annualized yield of 3.1%.

Katamaran Capital LLP reduced its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,415 shares of the company's stock after selling 6,105 shares during the quarter. CocaCola accounts for approximately 3.2% of Katamaran Capital LLP's investment portfolio, making the stock its 14th biggest holding. Katamaran Capital LLP's holdings in CocaCola were worth $3,425,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola during the 1st quarter worth about $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its stake in shares of 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 acquiring an additional 360 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its stake in shares of CocaCola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on KO. JPMorgan Chase & Co. increased their target price 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Finally, BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $76.93.

Insiders Place Their Bets

In other CocaCola news, 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 value of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by company insiders.

CocaCola Trading Up 0.3%

KO opened at $66.30 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The company's 50 day simple moving average is $68.09 and its two-hundred day simple moving average is $69.86. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The firm has a market capitalization of $285.33 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 3.44 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last released 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 business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same period last year, the company posted $0.84 EPS. The business's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. CocaCola's dividend payout ratio (DPR) 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.

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