Patton Albertson Miller Group LLC Raises Stock Holdings in CocaCola Company (The) $KO

Key Points

• Patton Albertson Miller Group LLC increased its stake in Coca-Cola Company by 6.9%, owning 118,969 shares valued at approximately $8.42 million as of the end of the recent quarter.
• Analyst firms have mixed views on Coca-Cola, with target prices ranging from $75.00 to $83.00, while the average rating for the stock is currently set at "Buy."
• Coca-Cola announced a quarterly dividend of $0.51 per share, yielding 3.1%, scheduled for payment on October 1st, impacting the dividend payout ratio at 72.34%.

Patton Albertson Miller Group LLC raised its position in CocaCola Company (The) (NYSE:KO - Free Report) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,969 shares of the company's stock after buying an additional 7,629 shares during the quarter. CocaCola makes up approximately 1.1% of Patton Albertson Miller Group LLC's portfolio, making the stock its 24th biggest position. Patton Albertson Miller Group LLC's holdings in CocaCola were worth $8,417,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola during the first quarter worth approximately $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola during the first quarter worth approximately $26,000. Garde Capital Inc. purchased a new stake in shares of CocaCola during the first quarter worth approximately $30,000. Mizuho Securities Co. Ltd. raised its stake in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC raised its stake in shares of CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on KO. Wells Fargo & Company reduced their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, CocaCola presently has an average rating of "Buy" and an average price target of $76.93.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 completion of the sale, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company's stock.

CocaCola Trading Down 0.5%

Shares of KO stock opened at $65.64 on Friday. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock has a market cap of $282.49 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.42 and a beta of 0.43. The business has a fifty day simple moving average of $68.58 and a 200-day simple moving average of $70.05. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49.

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, topping analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The firm's quarterly revenue was up 2.5% compared to the same quarter last year. 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. On average, analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The business also recently disclosed 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 3.1%. The ex-dividend date is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 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.

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