Oakworth Capital Inc. Sells 32,406 Shares of CocaCola Company (The) $KO

Key Points

• Oakworth Capital Inc. reduced its stake in the CocaCola Company by 41%, selling 32,406 shares and holding 46,643 shares valued at approximately $3.3 million as of the latest SEC filing.
• Analysts have varied price targets for CocaCola, with Royal Bank of Canada setting a target of $76.00 while Morgan Stanley has an "$81.00" outlook, indicating a consensus rating of "Buy" among analysts.
• CocaCola recently declared a quarterly dividend of $0.51, with an ex-dividend date of September 15, representing a yield of 3.1% and reflecting a dividend payout ratio of 72.34%.

Oakworth Capital Inc. lowered its position in CocaCola Company (The) (NYSE:KO - Free Report) by 41.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,643 shares of the company's stock after selling 32,406 shares during the quarter. Oakworth Capital Inc.'s holdings in CocaCola were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC lifted its holdings in shares of CocaCola by 4.0% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 4,594 shares of the company's stock worth $325,000 after acquiring an additional 178 shares during the last quarter. Archford Capital Strategies LLC raised its position in CocaCola by 23.7% in the 2nd quarter. Archford Capital Strategies LLC now owns 6,024 shares of the company's stock worth $426,000 after purchasing an additional 1,153 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in CocaCola by 17.3% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 12,838 shares of the company's stock worth $908,000 after purchasing an additional 1,890 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in CocaCola by 15.1% during the second quarter. Moss Adams Wealth Advisors LLC now owns 16,293 shares of the company's stock valued at $1,161,000 after buying an additional 2,141 shares during the period. Finally, GC Wealth Management RIA LLC boosted its position in CocaCola by 230.0% during the second quarter. GC Wealth Management RIA LLC now owns 39,655 shares of the company's stock valued at $2,806,000 after buying an additional 27,637 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent research reports. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Wells Fargo & Company dropped their price objective on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. lifted 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. Finally, UBS Group dropped 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. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.93.

CocaCola Price Performance

KO opened at $65.64 on Monday. The stock's 50 day moving average price is $68.58 and its 200-day moving average price is $70.06. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market capitalization of $282.49 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.43. 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 (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $12.55 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be 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 is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 directly 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 SEC, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

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.

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