Lewis Asset Management LLC Acquires 8,611 Shares of CocaCola Company (The) $KO

Key Points

• Lewis Asset Management LLC increased its stake in CocaCola by 168.7%, purchasing an additional 8,611 shares, bringing its total holdings to 13,716 shares valued at approximately $970,000.
• Insider Nikolaos Koumettis sold 37,396 shares at an average price of $69.10, resulting in a 15.15% decrease in their position, which now totals 209,513 shares.
• CocaCola announced a quarterly dividend of $0.51 per share, representing an annualized dividend yield of 3.1%, with the ex-dividend date set for September 15th.

Lewis Asset Management LLC increased its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 168.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,716 shares of the company's stock after purchasing an additional 8,611 shares during the period. Lewis Asset Management LLC's holdings in CocaCola were worth $970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Republic Capital LLC raised its position in shares of CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after acquiring an additional 139 shares in the last quarter. Alteri Wealth LLC increased its stake in shares of CocaCola by 2.1% during the first quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in CocaCola by 0.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock worth $1,439,000 after purchasing an additional 143 shares during the last quarter. MBA Advisors LLC increased its holdings in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after acquiring an additional 143 shares during the last quarter. Finally, BXM Wealth LLC boosted its stake in shares of CocaCola by 4.3% during the 1st quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock worth $253,000 after purchasing an additional 144 shares during the period. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Down 0.2%

CocaCola stock traded down $0.16 during trading hours on Monday, hitting $66.27. 13,283,842 shares of the stock traded hands, compared to its average volume of 17,977,178. CocaCola Company has a one year low of $60.62 and a one year high of $74.38. The company has a market cap of $285.20 billion, a PE ratio of 23.50, a PEG ratio of 3.46 and a beta of 0.43. The firm's 50-day moving average price is $68.87 and its two-hundred day moving average price is $70.18. 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 released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Analysts Set New Price Targets

Several analysts have recently commented on KO shares. BNP Paribas reaffirmed an "outperform" rating and issued a $83.00 price objective 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 note on Monday, June 9th. UBS Group decreased their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $76.93.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.