Raleigh Capital Management Inc. Lowers Holdings in CocaCola Company (The) $KO

Key Points

• Raleigh Capital Management Inc. has reduced its holdings in CocaCola by 19.6%, now owning 18,766 shares worth approximately $1,328,000.
• Several hedge funds, including Nuveen LLC, Wellington Management Group LLP, and Raymond James Financial Inc., have significantly increased their positions in CocaCola during the same period.
• CocaCola announced a quarterly dividend of $0.51 per share, payable on October 1st, representing a dividend yield of 3.1%.

Raleigh Capital Management Inc. trimmed its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 19.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,766 shares of the company's stock after selling 4,571 shares during the period. Raleigh Capital Management Inc.'s holdings in CocaCola were worth $1,328,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KO. Nuveen LLC purchased a new position in CocaCola in the first quarter worth approximately $1,508,657,000. Wellington Management Group LLP grew its position in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. Boston Partners purchased a new position in CocaCola in the first quarter worth approximately $642,183,000. Raymond James Financial Inc. grew its position in CocaCola by 47.4% in the first quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company's stock worth $848,315,000 after acquiring an additional 3,810,752 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in CocaCola by 497.0% in the first quarter. Assenagon Asset Management S.A. now owns 4,489,635 shares of the company's stock worth $321,548,000 after acquiring an additional 3,737,646 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider directly owned 209,513 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.97% of the company's stock.

CocaCola Stock Up 0.5%

Shares of NYSE KO opened at $66.00 on Tuesday. The stock has a market cap of $284.04 billion, a P/E ratio of 23.40, a PEG ratio of 3.42 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The business's fifty day simple moving average is $68.50 and its 200-day simple moving average is $70.04.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for 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 company's revenue for the quarter was up 2.5% compared to the same quarter last year. 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. As a group, equities analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KO. Royal Bank Of Canada set a $76.00 price objective on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company lowered their price target on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. 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, UBS Group lowered their price target on CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One equities research 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.com, CocaCola has an average rating of "Buy" and an average target price of $76.93.

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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