Opal Wealth Advisors LLC Sells 5,465 Shares of CocaCola Company (The) $KO

Key Points

• Opal Wealth Advisors LLC reduced its holdings in CocaCola Company by 32.7%, selling 5,465 shares, leaving them with 11,234 shares valued at $795,000.
• Several analysts have given mixed predictions, with Morgan Stanley setting a price target of $81.00, while UBS Group lowered its target from $84.00 to $80.00.
• CocaCola announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.1%, payable on October 1st to shareholders of record from September 15th.

Opal Wealth Advisors LLC lessened its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 32.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,234 shares of the company's stock after selling 5,465 shares during the period. Opal Wealth Advisors LLC's holdings in CocaCola were worth $795,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. New Republic Capital LLC grew its holdings in shares of CocaCola by 1.6% during the first quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock worth $625,000 after purchasing an additional 139 shares during the last quarter. Alteri Wealth LLC lifted 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 acquiring an additional 140 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in shares of CocaCola by 0.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after acquiring an additional 143 shares during the period. MBA Advisors LLC lifted its stake in shares of CocaCola by 1.2% during the first 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 period. Finally, BXM Wealth LLC lifted its stake in shares of CocaCola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company's stock valued at $253,000 after acquiring an additional 144 shares during the period. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

CocaCola Trading Down 0.2%

NYSE KO opened at $66.27 on Tuesday. The firm has a market cap of $285.20 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock's 50-day moving average is $68.87 and its 200-day moving average is $70.18. CocaCola Company has a one year low of $60.62 and a one year high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly 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. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.CocaCola's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Insider Activity at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated 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. This trade represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate 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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