Patton Fund Management Inc. Acquires Shares of 37,352 CocaCola Company (The) $KO

Key Points

• Patton Fund Management Inc. has acquired 37,352 shares of CocaCola Company, valued at approximately $2.6 million, during the second quarter.
• A significant 15.15% decrease in insider Nikolaos Koumettis' ownership was noted after he sold 37,396 shares, totaling over $2.5 million.
• CocaCola recently announced a quarterly dividend of $0.51 per share, with an ex-dividend date of September 15, reflecting an annual yield of 3.1%.

Patton Fund Management Inc. acquired a new stake in CocaCola Company (The) (NYSE:KO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 37,352 shares of the company's stock, valued at approximately $2,643,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sage Financial Management Group Inc. acquired a new position in shares of CocaCola in the first quarter valued at $216,000. Perigon Wealth Management LLC increased its holdings in shares of CocaCola by 3.6% in the second quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company's stock valued at $9,209,000 after purchasing an additional 4,469 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of CocaCola by 3.3% in the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock valued at $8,686,000 after purchasing an additional 3,920 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of CocaCola by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 762,841 shares of the company's stock valued at $54,635,000 after purchasing an additional 3,837 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 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 $14,477,348.30. This 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 the SEC website. 0.97% of the stock is owned by corporate insiders.

CocaCola Trading Down 0.5%

KO opened at $65.64 on Friday. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a 50-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. The stock has a market capitalization of $282.49 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 3.44 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. CocaCola's revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 3.1%. CocaCola's dividend payout ratio is currently 72.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KO shares. UBS Group reduced their target price on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, CocaCola currently has an average rating of "Buy" and a consensus price target of $76.93.

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.

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