Park National Corp OH Boosts Holdings in CocaCola Company (The) $KO

Key Points

• Park National Corp OH increased its stake in CocaCola Company (KO) by 8.2%, acquiring an additional 34,499 shares, bringing its total holdings to 454,868 shares worth approximately $32.18 million.
• CocaCola reported $0.87 earnings per share for the last quarter, surpassing analyst expectations of $0.83, with a revenue of $12.50 billion during the same period, although slightly below the consensus estimate of $12.55 billion.
• The company announced a quarterly dividend of $0.51 per share, scheduled to be paid on October 1st, with a current annualized dividend yield of 3.0%.

Park National Corp OH grew its holdings in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 454,868 shares of the company's stock after acquiring an additional 34,499 shares during the quarter. Park National Corp OH's holdings in CocaCola were worth $32,182,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KO. MorganRosel Wealth Management LLC bought a new stake in CocaCola in the first quarter worth $25,000. 1248 Management LLC purchased a new position in shares of CocaCola in the first quarter worth about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola in the 1st quarter valued at about $30,000. Mizuho Securities Co. Ltd. boosted its holdings 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 acquiring an additional 360 shares during the period. Finally, Ridgewood Investments LLC grew its position in CocaCola by 148.4% during 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. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

CocaCola Trading Down 0.9%

Shares of KO traded down $0.62 during trading hours on Friday, reaching $67.00. 18,684,181 shares of the company traded hands, compared to its average volume of 16,302,069. CocaCola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company's fifty day moving average price is $69.29 and its two-hundred day moving average price is $70.37. The company has a market capitalization of $288.35 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The business 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%. CocaCola's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. 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.