Mainstay Capital Management LLC ADV Has $2.35 Million Holdings in CocaCola Company (The) $KO

Mainstay Capital Management LLC ADV raised its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 100.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,262 shares of the company's stock after buying an additional 16,696 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in CocaCola were worth $2,353,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of CocaCola by 13.3% in 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 period. Revolve Wealth Partners LLC lifted its stake in shares of CocaCola by 3.4% in 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 period. Harbor Capital Advisors Inc. lifted its stake in shares of CocaCola by 12.7% in the first quarter. Harbor Capital Advisors Inc. now owns 62,272 shares of the company's stock valued at $4,460,000 after buying an additional 7,029 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of CocaCola by 1.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 42,925 shares of the company's stock valued at $3,074,000 after buying an additional 584 shares during the period. Finally, GAMMA Investing LLC lifted its stake in CocaCola by 19.0% during the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after purchasing an additional 13,261 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday. UBS Group dropped their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company dropped their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Finally, BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. Based on data from MarketBeat, CocaCola has an average rating of "Buy" and an average target price of $76.93.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company's stock.

CocaCola Stock Performance

Shares of CocaCola stock opened at $66.10 on Thursday. The firm has a 50 day simple moving average of $68.13 and a 200 day simple moving average of $69.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. 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 $284.47 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.48 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 EPS 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 previous year, the business earned $0.84 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.51 per share. 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 payout ratio is currently 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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