CocaCola Company (The) $KO Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC reduced its stake in CocaCola Company by 77.3% during the second quarter, selling 59,793 shares and ending with 17,580 shares valued at approximately $1.24 million.
• CocaCola reported quarterly earnings of $0.87 EPS, exceeding estimates, while its revenue was $12.50 billion, marking a 2.5% increase year-over-year.
• The company announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.0%, with an announced payout date of October 1st.

Procyon Advisors LLC decreased its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 77.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,580 shares of the company's stock after selling 59,793 shares during the quarter. Procyon Advisors LLC's holdings in CocaCola were worth $1,244,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KO. Nuveen LLC purchased a new position in CocaCola during the first quarter worth approximately $1,508,657,000. Wellington Management Group LLP boosted its position in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. Boston Partners purchased a new position in CocaCola during the first quarter worth approximately $642,183,000. GAMMA Investing LLC boosted its position in CocaCola by 8,419.4% during the first quarter. GAMMA Investing LLC now owns 5,961,004 shares of the company's stock worth $426,927,000 after purchasing an additional 5,891,034 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in CocaCola by 47.4% during the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after purchasing an additional 3,810,752 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Up 0.1%

NYSE KO traded up $0.06 during trading hours on Friday, hitting $66.52. The company had a trading volume of 31,087,715 shares, compared to its average volume of 17,067,516. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The company has a market capitalization of $286.28 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 3.46 and a beta of 0.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm's 50 day moving average is $68.93 and its 200 day moving average is $70.22.

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

CocaCola Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. 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. JPMorgan Chase & Co. raised their target price on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. BNP Paribas restated an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Morgan Stanley restated an "overweight" rating and set a $81.00 price target on shares of CocaCola in a research report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report 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 stock. According to data from MarketBeat, CocaCola has an average rating of "Buy" and an average price target of $76.93.

Insider Buying and Selling at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the firm's 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 directly owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

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.