MassMutual Private Wealth & Trust FSB Trims Stake in CocaCola Company (The) $KO

Key Points

• MassMutual Private Wealth & Trust FSB reduced its stake in CocaCola by 11.4%, now holding 148,640 shares valued at approximately $10.5 million.
• Several institutional investors have adjusted their positions in CocaCola, with Northstar Advisory Group LLC increasing its stake by 243.5% in the same quarter.
• CocaCola reported an earnings per share (EPS) of $0.87 for the last quarter, exceeding expectations, while also declaring a quarterly dividend of $0.51 per share, representing a 3.1% yield.

MassMutual Private Wealth & Trust FSB reduced its position in CocaCola Company (The) (NYSE:KO - Free Report) by 11.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 148,640 shares of the company's stock after selling 19,034 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in CocaCola were worth $10,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Advocates LLC lifted its holdings in shares of CocaCola by 3.7% in the 2nd quarter. Strategic Advocates LLC now owns 5,748 shares of the company's stock valued at $407,000 after purchasing an additional 205 shares during the last quarter. IAM Advisory LLC increased its position in CocaCola by 10.6% in the 2nd quarter. IAM Advisory LLC now owns 3,158 shares of the company's stock valued at $223,000 after acquiring an additional 302 shares during the period. First National Corp MA ADV increased its position in CocaCola by 2.5% in the 2nd quarter. First National Corp MA ADV now owns 8,360 shares of the company's stock valued at $591,000 after acquiring an additional 200 shares during the period. Northstar Advisory Group LLC increased its position in CocaCola by 243.5% in the 2nd quarter. Northstar Advisory Group LLC now owns 28,686 shares of the company's stock valued at $2,030,000 after acquiring an additional 20,334 shares during the period. Finally, Davis Investment Partners LLC increased its position in CocaCola by 4.3% in the 2nd quarter. Davis Investment Partners LLC now owns 7,406 shares of the company's stock valued at $531,000 after acquiring an additional 304 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. BNP Paribas restated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. 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 report on Wednesday, July 23rd. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Morgan Stanley restated an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $76.93.

CocaCola Stock Performance

NYSE KO opened at $66.22 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. The business's 50 day moving average is $69.20 and its two-hundred day moving average is $70.33. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock has a market capitalization of $284.99 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 3.49 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 (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

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

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business'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 transaction of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

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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