Parallel Advisors LLC Buys 4,046 Shares of CocaCola Company (The) $KO

Key Points

• Parallel Advisors LLC increased its stake in CocaCola Company by 4.7%, resulting in ownership of 89,819 shares worth approximately $6.35 million.
• Recent analyst ratings show a consensus of "Buy" for CocaCola, with price targets ranging from $76 to $84.
• CocaCola recently announced a quarterly dividend of $0.51, yielding 3.1%, with an upcoming payout date on October 1st.

Parallel Advisors LLC lifted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,819 shares of the company's stock after purchasing an additional 4,046 shares during the quarter. Parallel Advisors LLC's holdings in CocaCola were worth $6,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC bought a new position in shares of CocaCola during the 1st quarter worth about $26,000. Garde Capital Inc. acquired a new stake in shares of CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its holdings in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC raised its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Buying and Selling 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 transaction of $2,584,063.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the stock an "outperform" rating in a report on Monday, July 21st. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. BNP Paribas restated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $76.93.

CocaCola Stock Up 0.1%

NYSE:KO traded up $0.06 on Friday, hitting $66.52. The stock had a trading volume of 31,087,715 shares, compared to its average volume of 17,067,516. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. The stock has a market cap of $286.28 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.43. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The firm's fifty day simple moving average is $68.93 and its two-hundred day simple moving average is $70.22.

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

CocaCola Announces Dividend

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

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.