Kingstone Capital Partners Texas LLC Purchases New Stake in CocaCola Company (The) $KO

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $23.8 million by purchasing 337,064 shares of CocaCola in the second quarter.
• The CocaCola Company reported an earnings per share (EPS) of $0.87 for the quarter, exceeding expectations and marking a year-over-year revenue increase of 2.5%.
• CocaCola announced a quarterly dividend of $0.51 per share, with a payout ratio of 72.34%, set to be paid on October 1st to investors of record on September 15th.

Kingstone Capital Partners Texas LLC bought a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 337,064 shares of the company's stock, valued at approximately $23,847,000.

A number of other hedge funds also recently made changes to their positions in KO. MorganRosel Wealth Management LLC purchased a new position in CocaCola during the 1st quarter worth approximately $25,000. 1248 Management LLC bought a new stake in CocaCola in the first quarter valued at about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of CocaCola by 360.0% in 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 increased its position in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after acquiring an additional 285 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company's stock.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.16 on Monday, reaching $66.27. The company's stock had a trading volume of 13,283,842 shares, compared to its average volume of 16,997,010. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a market cap of $285.20 billion, a P/E ratio of 23.50, a PEG ratio of 3.46 and a beta of 0.43. The company has a 50-day simple moving average of $68.93 and a 200 day simple moving average of $70.21.

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, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 EPS 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 issued a $0.51 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's dividend payout ratio (DPR) is 72.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KO shares. BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group dropped their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat.com, CocaCola has an average rating of "Buy" and a consensus target price of $76.93.

CocaCola 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.