Park Avenue Securities LLC Acquires 9,182 Shares of CocaCola Company (The) $KO

Key Points

• Park Avenue Securities LLC increased its stake in Coca-Cola Company by 9.1% during Q2, owning a total of 109,722 shares worth approximately $7.76 million.
• Coca-Cola reported for Q2 a EPS of $0.87, surpassing analysts' expectations, with revenue slightly below forecast at $12.50 billion.
• The company has announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.1%, to be paid on October 1st.

Park Avenue Securities LLC raised its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,722 shares of the company's stock after purchasing an additional 9,182 shares during the period. Park Avenue Securities LLC's holdings in CocaCola were worth $7,763,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

KO has been the topic of several analyst reports. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group reduced their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, September 11th. 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. JPMorgan Chase & Co. increased their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, BNP Paribas reissued an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, CocaCola has an average rating of "Buy" and an average target price of $76.93.

Insider Buying and Selling at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

CocaCola Stock Performance

Shares of CocaCola stock traded down $0.16 on Monday, hitting $66.27. The stock had a trading volume of 13,283,842 shares, compared to its average volume of 17,977,178. 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 company's 50 day moving average price is $68.87 and its 200 day moving average price is $70.18. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $285.20 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the company earned $0.84 EPS. CocaCola's revenue was up 2.5% on a year-over-year basis. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently declared 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. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

CocaCola Company 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.